A Question about Lebanon?
What are some factors that are helping to develop the economy and stability of Lebanon? I cant find any information on this subject. : l Can anyone give me an answer?
- 10 years agoFavorite Answer
Lebanon's industry and agricultural sector are weak (due to the shortage of raw metals and energy sources like fuel....) so Lebanon counts on its "Trade and Service" sector to get revenues..
so lebanon tries to offset the shortage of income thru :
1. tourism revenues
2. The Free Market (especially in the airport and , ports, etc....)
3. Transit revenues (this is a prosperous way of recovering the Lebanese economy because of lebanon's medial geographic location [joining europe and the west with arab gulf countries] )
4. Funds and investments of Lebanese expatriates.
5. Banking sector revenues and funds, (lebanese banking attracts huge funds from other countries because its banking secrecy system)
- X-GIRLLv 610 years ago
we don't have a proper budgeting to start with, everyone in the government is stealing as much as they can.
We don't even have a proper statistics for unemployment but I can certainly tell you it's a very high rate, as well as inflation, our bank of Lebanon, is doing well by the monetary policy used, as they are trying to keep the Lebanese Lira at a fixed rate compared to the US dollar.