The rug: Stability and reforms needed for recovery

Lebanese Minister of Economy and Trade, Amr Bissar, affirmed that Lebanon's economic recovery will only be achievable after security stability and political reforms to restore sovereignty and the state's decision-making authority. He pointed out that damages to infrastructure are estimated at around $11 billion, and that the costs of displacement are doubling the crisis, amounting to approximately $100 million per month. He emphasized Lebanon's responsibility in implementing the necessary reforms, especially in the banking sector, and explained that the budget problem lies in the requirements exceeding available resources, with two main options: tightening spending or securing external resources. He clarified that improving military salaries requires funding either from revenues or reforms, demonstrating the need to strengthen revenue collection, but warned against compromising monetary stability. He called for a clear roadmap to restructure the banking sector and recover deposits, considering that the ongoing banking crisis poses a significant obstacle to Lebanon's economic recovery.

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