The road that runs along the Beirut corniche. Wednesday, January 15, 2024. (Credit: Mohammad Yassine).
BEIRUT — The election of a new president and government in Lebanon presents a “critical opportunity to tackle its prolonged, multi-pronged crises through a comprehensive crisis-resolution plan,” said the World Bank in its latest Lebanon Economic Monitor report titled “Turning the tide?”The report projects a Gross Domestic Product (GDP) growth of 4.7 percent in 2025, “supported by anticipated reform progress, a recovery in tourism and consumption and limited capital inflows” among other factors. It cautions, however, that the country’s economic outlook for 2025 remains shaped by a “fragile stabilization in the political and security environment.” It also fails to take into account recent geopolitical developments, namely the escalation of violence between Israel and Iran, which have been exchanging fire massively since June 13, and the...
BEIRUT — The election of a new president and government in Lebanon presents a “critical opportunity to tackle its prolonged, multi-pronged crises through a comprehensive crisis-resolution plan,” said the World Bank in its latest Lebanon Economic Monitor report titled “Turning the tide?”The report projects a Gross Domestic Product (GDP) growth of 4.7 percent in 2025, “supported by anticipated reform progress, a recovery in tourism and consumption and limited capital inflows” among other factors. It cautions, however, that the country’s economic outlook for 2025 remains shaped by a “fragile stabilization in the political and security environment.” It also fails to take into account recent geopolitical developments, namely the escalation of violence between Israel and Iran, which have been exchanging fire massively since...
