President Bashar al-Assad on Wednesday issued Law no. 27 for 2011, specifying the general state budget for the fiscal year 2012 with SYP 1326.5 billion, according to SANA .
According to the Law, the revenues of the general state budget for the fiscal year 2012 are estimated at SYP 1326.5 billion.
The budgets of the public bodies which have economic and constructional nature will be issued according to a decision by the Minister of Finance after the issuance of this Law.
Minister of Finance Mohammad al-Jleilati said the total amount of the general state budget for 2012 will be divided between current approbations, that will be allocated SYP 951.550 billion, including SYP 386 billion for social subsidies, and investment approbations at SYP 375 billion.
The Minister pointed out in a statement to SANA that the 2012 budget includes an increase of SYP 491.550 billion over the budget of 2011, at a percentage of 58 %.
This the biggest Syrian state budget ever and it recorded an unprecedented increase in the amount of the budget, it is not clear why the Syrian government decided to put out such a huge increase amidst the turmoil in the country but observers say it is a move to show confidence and boost the troubled economy.