In March 2011, the Syrian crisis began after the anti-government demonstrations commenced. The peaceful protests were interrupted by a violent crackdown by the government, which informed the decisions of the rebels to fight back. Since then, more than 11 million people have been forced to flee with their homes while others have been killed. The humanitarian crisis caused by the refugees has got many organizations and governments worried, with the United Nations indicating that it will take close to 8.4 billion dollars to meet the needs of the vulnerable Syrian population. The most affected people have been travelling to Europe, with the hope of finding better opportunities in the new land. Nevertheless, their presence in most European countries is not embraced since many nations have been feeling that they do not have the economic capacity to accommodate them.
Certainly, after four years of civil war, the economy has been affected negatively. The GDP levels have dropped down by more than 1.5% every year. It is even reported that it is impossible to find real statistics on the impact of the Syrian civil war. Before the war, agricultural, tourism and consumer economy were the main sources of income for the nation. The newly liberalized economic structure was also showing a lot of potential in the economy. More so, the influx of the refugee from Iraq was enabling the economy to expand at an exponential rate. Even so, with the rise of the civil war, the economic growth and development has deteriorated. The European council on foreign relations has indicated that the economy has gone back to where it was thirty years ago.
With 57% unemployment rate, the standard of living for the majority still residing in the country is poor. Those who are lucky enough to find jobs are unable to find essential services such as health and education because of the destructive war. At such a state, the inflationary pressures are high. The leadership has tried to come up with fiscal and monetary policies to deal with the inflation issue to no avail. Specifically, the 2014 price controls policy did not yield the best results for the economy. Moreover, people have resorted to smuggling goods and other illegal activities in the bid to survive.
The political atmosphere in Syria has not shown any signs of solving the crisis, which means that the economy may continue to suffer. It is sad that United Nations has predicted that it will take more than 30 years to re-build the economy. It is even suggested that the destruction that has happened so far is similar to the type that happened during the Second World War in some countries. The exodus of the refugees and poor educational opportunities availed to the young people in the population makes the process of rebuilding the economy in the future even more difficult. This is because labor force may not be available to drive the economy forward. Indeed, the Syrian refugee crisis has impacted the economy negatively and thus, stern measures should be taken to address the political issues in the economy.