BEIRUT: “Lebanon is currently experiencing a gradual deterioration toward the abyss in light of its political stalemate, financial and economic hardship, and the lack of a support program from the International Monetary Fund (IMF), as the required reforms have not yet been achieved,” a source from the Lebanese Ministry of Finance told Arab News on Thursday.
The source, who asked to remain anonymous, expects this stalemate to be accompanied by the lifting of subsidies on basic commodities and expects the situation to worsen over the next few months.
Thursday saw a sudden increase in the dollar exchange rate, which reached 8,200 Lebanese pounds on the black market before dropping slightly. The rate had dropped to under 7,000 Lebanese pounds less than a month ago when Saad Hariri was assigned to form a new government based on the French rescue initiative on Oct. 22.
However, that has yet to happen, with the Free Patriotic Movement and Hezbollah’s allies objecting to not being involved in naming ministers.
Al-Manar TV, which is affiliated with Hezbollah, accused the French of taking sides and explicitly warned France against thinking that it is in control, saying “Things will slip out of its hands at any moment.”
The Progressive Socialist Party (PSP), headed by Druze leader Walid Jumblatt, expressed its concern on Thursday about the fate of the central financial reserve in light of the continued provision of subsidies, which it says are being smuggled into Syria instead of going to Lebanese families.
Hadi Aboulhosn, a PSP MP, said in a press conference: “The subsidies must be replaced with direct subsidies for poor families. Lebanon has reached the edge of the acceptable ceiling for using reserves, that is $17.5 billion. Some leaked data shows that this ceiling is being violated. Lebanon uses more than $530 million per month to subsidize fuel, flour, medicine, and other commodities.”
“If the crisis facing the Lebanese people worsens, it will lead to a major social explosion within the next two months, with the Banque du Liban ceasing to support basic commodities as an inevitable consequence of the country reaching a dead end at the political, economic, financial, and social levels, in addition to the gradual decline of the state’s capacity, the continued financial bleeding, and the shrinking of the central reserve,” he continued. “All of this will exacerbate smuggling, monopoly, the lack of price controls, and the failure of the needy and poor groups to benefit from the support mechanisms.”
Aboulhosn claimed that rationalizing subsidies could save around $5 billion, partly be preventing “the exploitation practiced by big traders and importers” and “curbing smuggling.”
According to PSP board member Mohamed Basbous, “The Banque du Liban loses at least $140 million annually to cover the difference between the official exchange rate and the parallel market’s exchange rate due to the smuggling of gasoline alone.”
Basbous pointed out that the diesel quantities imported by Lebanon increased from about 1,100,000 tons in 2011 to 2,500,000 tons in 2019 — an increase of 130 percent in six years.
He claimed that around 50 percent of imported diesel is smuggled into Syria every year. “The quantity that is smuggled annually amounts to 73,500,000 cans. Therefore, the Banque du Liban loses approximately $418 million annually in subsidized hard currency due to smuggling alone.”
Finance ministry fears plunge into ‘abyss’ as Lebanon’s reserves shrink
https://arab.news/gu27k
Finance ministry fears plunge into ‘abyss’ as Lebanon’s reserves shrink
- Thursday saw a sudden increase in the dollar exchange rate
- The exchange rate reached 8,200 Lebanese pounds on the black market before dropping slightly
Why Jordanians are flocking to Damascus as Syria reopens roads, skies and rails
- Tour buses, budget flights and reopened crossings signal renewed civilian travel between Jordan and postwar Syria
- Officials say mobility revival reflects deeper regional reintegration as Damascus sheds isolation and rebuilds tourism sector
DUBAI: Ask nearly any Jordanian over the age of 40 about Damascus and you are likely to be met with a nostalgic tale of days gone by when weekend trips to the old city were as common as those to the Dead Sea.
Such memories were confined to the pits of nostalgia by the onset of the Syrian civil war, which turned the once-famed journey into an ordeal of derelict rest stops, militia checkpoints, sudden closures and the possibility of violence.
However, over the last year, tour buses have reappeared on the centuries-old trade route. Private drivers are booking permits to take the road north and a new generation of Jordanian travelers, eager for regional rediscovery, are getting back on the road to Damascus.
Statistics released by Syria’s Ministry of Tourism show that Jordanians are by far the largest group of tourists represented in Syria, with 394,871 arrivals in 2025 alone — some 93 percent more than the previous year and eclipsing any other nation, including those with substantial Syrian populations like Turkiye and Germany.
FASTFACT
395K
Jordanians who visited Syria in 2025, up 93% on the previous year, making them the country’s largest tourist group.
These figures represent “not only the reactivation of tourism flows, but a deeper strategic recovery extending beyond the economic domain,” Mazen Al-Salhani, Syria’s minister of tourism, said in a statement.
“It signals a transition to organized, civilian-driven mobility and a restored perception of Syria as a safe, attractive and culturally rich destination.”
Jordan and Syria share not only a border, but also centuries of cultural, familial and economic ties. The Nasib-Jaber crossing on the Damascus-Amman highway was one of the busiest gateways in the region before the civil war.
That crossing’s reactivation is symbolic of a wider lifting of barriers. While the border was closed intermittently in late 2024 amid renewed conflict, the crossing has now been revitalized, streamlining the process of getting permissions for vehicles and border patrol checks.
Hamzeh Battieh, executive manager of Sharif House Handcrafted Travel and Events, a tourism operator based in Damascus, told Arab News the crossing had become substantially easier to navigate, transforming from somewhere that was once quite hostile into something quite welcoming.
“Following the liberation of Syria, the situation at the crossing changed fundamentally for the better,” he said.
“The time required to complete entry or exit procedures no longer exceeds 10 minutes, whereas under the former regime it used to take many hours and involved widespread bribery and favoritism.
“Visitors are now received with warm hospitality. Many travelers have repeatedly heard officers at the crossing say to passengers: ‘Welcome home, you have illuminated our country’.”
Jordanian tour operators, who for years pivoted travelers to Istanbul, Cairo, or Beirut, now report growing inquiries for tours that include Damascus’ ancient souks, the Umayyad Mosque and day trips to historic sites such as Bosra.
Meanwhile, a growing number of independent travelers are making the Amman-Damascus bus route part of their itineraries, sharing tips online about passports, bus times and border crossing formalities.
Battieh said the fall of the Bashar Assad regime had made Syria a substantially freer and easier country to navigate.
“Tourism has indeed begun to return to Syria, but with a new spirit, free of the difficulties and complications that were imposed during the era of the former regime,” he said.
“Starting from border and airport police and extending to public roads, today, procedures for entering Syria have become smoother and far more welcoming.”
Syria’s comparable affordability as a destination is reportedly another appeal that is attracting Jordanians to venture north.
According to Hussein Halaqat, a spokesperson for the Jordan Hotels Association, domestic tourism in Jordan declined during the first three days of the last Eid Al-Adha holiday due in part to the lower-cost travel on offer across the northern border.
“Prices in Syria are lower than in Jordan, particularly compared with Jordan’s five-star seaside hotels in Aqaba and the Dead Sea, which not everyone can afford,” he told Erem News.
He said the queues at coach stops in the capital, Amman, for services heading to Syria, which can cost as little as 15 Jordanian dinars ($21) per passenger, were indicative of the rising competition that regional integration could bring.
Battieh said Jordanians were particularly drawn to Damascus and Aleppo for their historical significance and famed cuisine. Many of Damascus’ most famous restaurants had moved to Amman during the war, creating a local following.
“A visitor can easily spend at least one full week in Damascus alone, exploring landmarks such as the Umayyad Mosque, Al-Azem Palace, and famous traditional markets like Al-Hamidiyah Souq and Al-Buzuriyah,” he said.
“They also really love the city’s diverse cuisine, Damascene ice cream, traditional cafes such as Al-Nawfara Cafe and historic public bathhouses like Hammam Al-Malik Al-Zahir.”
As the road to Damascus is reconnected with its southern neighbor, so too are its skies. In early January, a Royal Jordanian commercial flight landed at Damascus International Airport, marking the restoration of the Amman-Damascus air corridor after a 14-year hiatus.
The flight, organized as a technical trial, carried a Jordanian delegation of aviation experts tasked with assessing the airport’s readiness to resume regular operations.
While modest in scale, the flight was heavy with symbolism — a sign that Damascus was once again reentering regional airspace after more than a decade of isolation.
Since then, travel has surged, with Royal Jordanian offering four weekly flights between the two capitals. With a flight time of just 25 minutes, the route is intended to close the gap for road-weary travelers, while giving Syrians access to more destinations through an Amman transit.
Moreover, perhaps more ambitiously, the two countries have agreed to restore a historic rail link that once connected Damascus and Amman. The Hijaz Railway project aims to have passengers traveling between the two cities as early as this year.
Although the timeline remains unclear, Zahi Khalil, director-general and deputy chairman of the Jordan Hijaz Railway at the Jordanian Ministry of Transport, told Arab News that plans are well underway.
“Regarding the connection process — the link between Damascus and Amman — it could be ready by the end of 2026.”
Historically, the Hijaz Railway was part of the Ottoman rail network and served as a major link between Damascus and Makkah, reducing a journey that once took 40 days to just five.
Seen by the sultan at the time as a symbol of Islamic unity and progress, the railway holds deep historical and cultural significance across the region.
Khalil said much of the historic track would be rehabilitated, upgraded for modern trains and reused, with large sections of the original route still intact.
“Once Syria is linked to the Turkish rail lines, Amman will be connected all the way to Istanbul,” he said.
For Jordanian tourists, these developments reinforce a sense that Syria is no longer a place visited only out of necessity or for nostalgia, but one that is once again accessible by choice.
For Syrians like Battieh, these changes represent something far deeper — a reclaiming of mobility after years of enforced paralysis, and a signal that reintegration into the region is no longer theoretical, but operational.
“Syria has room for all who love her,” Battieh said. “Welcome to the new Syria. As the French archaeologist Andre Parrot once said: ‘Every civilized person has two homelands: Their own, and Syria’.”










