to further
stimulate growth and raise revenue to pay down the federal debt. In
September 2003, Swedish voters turned down entry into the euro
system concerned about the impact on the economy and sovereignty.

Switzerland
Switzerland is a peaceful, prosperous, and stable modern
market economy with low unemployment, a highly skilled labor force,
and a per capita GDP larger than that of the big Western European
economies. The Swiss in recent years have brought their economic
practices largely into conformity with the EU's to enhance their
international competitiveness. Switzerland remains a safehaven for
investors, because it has maintained a degree of bank secrecy and
has kept up the franc's long-term external value. Reflecting the
anemic economic conditions of Europe, GDP growth stagnated during
the 2001-03 period, improved during 2004-05, and jumped to 2.9% in
2006, and 2.6% in 2007. Unemployment has remained at less than half
the EU average.

Syria
The Syrian economy grew by an estimated 3.3% in real terms in
2007 led by the petroleum and agricultural sectors, which together
account for about one-half of GDP. Higher crude oil prices countered
declining oil production and led to higher budgetary and export
receipts. Damascus has implemented modest economic reforms in the
past few years, including cutting lending interest rates, opening
private banks, consolidating all of the multiple exchange rates,
raising prices on some subsidized items, most notably gasoline and
cement, and establishing the Damascus Stock Exchange - which is set
to begin operations in 2009. In October 2007, for example, Damascus
raised the price of subsidized gasoline by 20%, and may institute a
rationing system in 2008. In addition, President ASAD signed
legislative decrees to encourage corporate ownership reform, and to
allow the Central Bank to issue Treasury bills and bonds for
government debt. Nevertheless, the economy remains highly controlled
by the government. Long-run economic constraints include declining
oil production, high unemployment and inflation, rising budget
deficits, and increasing pressure on water supplies caused by heavy
use in agriculture, rapid population growth, industrial expansion,
and water pollution.

Taiwan
Taiwan has a dynamic capitalist economy with gradually
decreasing guidance of investment and foreign trade by the
authorities. In kee