Economy Minister Warns Lebanon on Tough Times

Lebanese Minister of Economy and Trade, Amer Boussat, confirmed that the country is experiencing a difficult phase characterized by declining foreign remittances and an increasing economic recession rate, which may reach 10%, the highest since 2019. He explained that the crisis results from external factors such as the war, internal paralysis, and an unfavorable regional situation. He pointed to efforts to manage the crisis through deep economic reforms, including improvements in the electricity and communications sectors and rebuilding the state. He also noted ongoing measures to confiscate illegal assets, alongside judicial and municipal procedures, and that the government is postponing the increase in fuel taxes to study incremental measures.

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