Cranes are seen at a construction site at Beirut's central district in Lebanon January 4, 2017.REUTERS/Jamal Saidi
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After years of political deadlock, Lebanon finally has a new government.Long term, Lebanon is searching for new sources of growth, which fell from 8-9 percent to below 2 percent when Syria's civil war began in 2011 . Without one, there will be little chance of tackling Lebanon's growing fiscal deficit and debt-to-GDP ratio, forecast by the World Bank at 155 percent this year, the third-highest in the world.The fate of Lebanon's economy is important not only for the livelihoods of 4 million Lebanese, but for avoiding even more chaos in the Middle East: The country is home to more than 1 million Syrian refugees and half a million Palestinian refugees, and has its own history of instability.Marwan Kheireddine, chairman of Mawarid Bank which invests in tech businesses, said 10 years ago entrepreneurs would have had to leave Lebanon to find funding and other support.At least eight new investment funds, four new fund managers and multiple jobs have been created, those in the sector say.
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