Syria lost $144bn since 2011: report

June 1, 2014 12:15 am

An UN-sponsored study has said the Syrian economy, rocked by four years of civil war, is shrinking fast as industrial and agricultural output falls, leaving almost two thirds of the population in extreme poverty, Reuters has reported. The report estimates a 40% contraction in GDP since the start the conflict in 2011. Losses due to the ongoing conflict were estimated at $143.8bn, a figure the report said was based on estimated damage to residential and state buildings. Experts said it was too early to ascertain more accurately as the heaviest hit areas are still combat zones.