Diab Confirms Economic Difficulties, Hopes Lebanon Would Emerge from Crisis
Arab World
Beirut - Asharq Al-Awsat
Lebanese Prime Minister Hassan Diab admitted on Friday that the country’s economy and all its sectors were experiencing grave difficulties. He called for patience “in the hope that the government can achieve the desired goals to help Lebanon out of the prevailing crisis." "I know very well that the situation of economic institutions is grim, and I know that they face great challenges," the PM said during a meeting with a delegation of economic bodies headed by former minister Mohammad Choucair at the Grand Serail. Diab admitted that the economic bodies are under great pressure. Choucair affirmed confidence in the role played by the premier, stressing that businesses would stand side-by-side with the government in its reform steps. He presented the Prime Minister the economic bodies' plan of action to face the economic crisis. It includes a proposal to establish an economic steering committee, launch a credible financial reform process, seriously deal with the public sector debt, find solutions to the debt of the private sector, and bring back confidence in the banking sector. Separately, Finance Minister Ghazi Wazni discussed on Friday the situation of the banking sector with a delegation from the Association of Lebanese Banks, headed by Salim Sfeir. Wazni stressed that the savings of depositors would not be touched, calling on the Association to work on lowering interest rates to keep the economy moving and ease burdens on public finances. On Thursday, Sfeir reassured depositors that their deposits are safe and that the temporary measures were exceptional only to manage the current crisis.
from Asharq AL-awsat https://aawsat.com/english/home/article/2109831/diab-confirms-economic-difficulties-hopes-lebanon-would-emerge-crisis
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