List of all articles filed under “lebanon-economy” category.
On the 6th May 2018, Lebanon held its long-awaited parliamentary elections; the first such elections since 2009. Voter turnout among the 3.9 million eligible voters was just 49.2%.
“As a group Net Holding’s objective and strategy is not only to try to sustain and maintain what we have in terms of business growth across different types of services but also to be prepared for peace in the region. Once it is established, the reconstruction projects in Syria will be actioned and the Iraqi market will thrive; as a matter of fact, all types of projects such as power plants and oil and gas will kick off again so we need to be ready for this economic rebirth in the region.”
“The apartments are getting smaller and the real estate developers are targeting this market,” says Joseph Psaroulla, Chairman of D.G. Jones & Partners, the leading construction consultants in Lebanon.
“Like in any other sector at this time in the Middle East, people are trying to solve the problems rather than putting in new investments. Nobody is even thinking about new investments,” says Wajih Bizri, President of International Chamber of Commerce Lebanon & Sipes Group.
“Lebanon has a good diaspora, there are about 14 million Lebanese living outside of Lebanon. This is a very big asset for Lebanon,” explains Nabil Itani, Chairman – GM of IDAL.
“Despite all, Lebanon has maintained some kind of stability in security, economics and also socially. Subsequently, Lebanon has succeeded in achieving more positive signals in foreign investment, not only due to the security but also due to its diversified economy,” explains Nabil Itani, Chairman – GM of IDAL.
Riad Salameh, Governor of the Central Bank of Lebanon, discusses the response to the Syria conflict. The Central Bank has introduced a stimulus package to support loans for housing, education, renewable energy projects, innovative projects, research and development ventures, entrepreneurship and the various productive sectors to encourage local demand.
American think-tank report, The Heritage Foundation 2013 Index of Economic Freedom rated the Levant at 91st in terms of economic freedoms, out of the 177 countries included in this year’s report.
Thanks to its resilient, well-educated people, Lebanon has managed to buck numerous regional crises. The country’s economic profile, however, might soon have to be rewritten.
Internally, the biggest risk for Lebanon is an open Lebanese-Israeli military conflict.
