World Economy

Lebanon Economic Situation Delicate

Lebanon Economic Situation DelicateLebanon Economic Situation Delicate

World Bank Vice President for the Middle East and North Africa Ferid Belhaj said Monday that Lebanon’s economic situation was “delicate”, but dismissed the notion that there was reason to fear it. Belhaj’s comments came after he met with Prime Minister-designate Saad Hariri at the latter’s downtown residence, Asharq Al-awsat reported. As Lebanon looks to form a new cabinet, there have been several warnings that the delay in government formation could negatively affect the country’s economy. Even so, “there is no fear,” Belhaj said when he was asked whether there was cause for concern about Lebanon’s economy. But, he added, “the economic situation in Lebanon is delicate, so the World Bank has to have a point of view that is consistent with the government’s point of view, which is to embark on a new phase of reforms, especially for the energy, water and new technology sectors, to attract investments.” Belhaj said that during his meetings with Hariri, as well as during meetings with Aoun and Speaker Nabih Berri, he and the officials discussed the World Bank’s relationship with Lebanon and the projects that are set to take place between the two.


Add new comment

Read our comment policy before posting your viewpoints