“The economy” British magazine confirmed in its report that the Lebanese economy, which is based on three main pillars to achieve growth and development: tourism, real estate and the financial sector, is facing a difficult internal situation and troubling challenges such as the refugees’ crisis, who have flowed into the country in addition to denominations that directly affect the stability.
The magazine pointed out that the figures showed falls in transactions in various sectors, such as tourism, construction and real estate.
The Lebanese Central Bank has been lending for many years, but this privilege expired last March. There is no longer a possibility of taking long-term loans that can be repaid in 30 years at 3% as a rate of interest.
The Lebanese crisis has not stopped at this point. In fact, the country's Gross Domestic Product grew by 8% in 2010, before the start of the revolution events in a number of Arab countries, and decreased to 2% after the outbreak of the revolutions and the turning of the Syrian protests into a civil war and regional conflict. However, the real estate recession will have a greater impact and the situation may worsen, according to the magazine.
As the interest rates in Lebanon have risen significantly, in an effort to make money, the microenterprises will be hampered, as it will be difficult for them to get loans to start their activities and create jobs.
On the other hand, some people have some hopes that the international aids would revive the economic situation in Lebanon. The magazine says that the support was disappointing at the Paris conference in April, as donors pledged to give them only $ 12 billion, part of which are loans.
In the meantime, the International Monetary Fund is likely to increase Lebanon's debt to 180% of GDP in five years, while currently the figure is 150%, meaning that the payment of the debts will be covered by about 60% of the Lebanon budget. Thus, there will be no large margins to afford the other areas and sectors.
#Concerns and# challenges are facing #the Lebanese economy
العربية 
English