Lebanese Businessmen Association tackles means to save economy

The Lebanese businessmen association held roundtable discussions on means to save the country's economy, in presence of the Economy and Trade Minister Nicolas Nahhas. The Minister delivered a statement whereby he recalled that after "the Taef Agreement the responsibility was split, what led to an economic instability and to the loss of legal frameworks." Nahhas explained that any rescue project must be pre-determined in terms of priorities, and must remain prevalent whatever occurs. The Minister pointed that "the economic pattern has not changed for several years and many significant investments took place in the country. But we are currently witnessing a change in the situation because of the surrounding circumstances, especially the situation in Syria." "We are entering a very important phase of regional and strategic change. What is required today is to safeguard our economy and immunize our potentials as the conditions that we are recently experiencing led to a 4% decrease in loans and a 30% decline in exports, as well as to the high cost of land transportation," the Economy Minister pointed out. He said a new plan has to be adopted, starting by using a rhetoric that lessens political polarization, keeping realistic perspectives of things, maintaining the growth rates, preserving capabilities and unifying energies. Nahhas announced that "the current stage requires careful management because we are ahead of parliamentary elections and the government (...) is working to come out with beneficial results on the economy's stability." He added that the salaries' scale is the main topic that needs to be studied by the government in cooperation with various Lebanese social and economic bodies.