Workers construct a pedestrian bridge in Sidon. The country’s infrastructure has taken a back seat due to chronic deficits. (The Daily Star/Mohammed Zaatari)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
As the Lebanese bid farewell to 2017 with mixed reactions, observers and economists are busy now analyzing the challenges Lebanon will face in 2018 hoping to revitalize the sluggish economy. But the lingering question echoed by all the economists and bankers interviewed by The Daily Star is how to reduce the mounting deficit and public debt and achieve significant GDP growth."Of course what we need to do in 2018 is reduce the budget deficit and check the rise of the public debt, which has reached $80 billion, representing 150 percent of the GDP," economist Ghazi Wazni said.He added that the other challenge facing the government in 2018 is to achieve higher GDP growth, noting that the GDP growth did not exceed 1.5 percent over the past two years.With an annual budget deficit of $5 billion, this leaves the government with hardly any available cash to invest in the country's infrastructure.The government subsidizes the cost of electricity bills and this is one of the causes of the deficit in the electricity company."The IMF suggested that the government should implement institutional reforms as one of the ways to tackle corruption," Sader said.He believes that the other way to control corruption is to allow the private sector take part in infrastructure projects.
Khalil: Lebanon to raise $2B in Eurobonds at below 14 pct
Dollar demand ‘nothing unusual’, Lebanese bankers say
Lebanon to pay top yield on new Eurobonds
FOLLOW THIS ARTICLE