Stunted growth: Lebanon's economy at the mercy of political stability

Adnan Kassar

Head of Lebanon’s Economic Committee Adnan Kassar reiterated Monday warnings that the economy is at the mercy of political bickering and instability.

“You need to understand the impact of your behavior on the economy,” Kassar told politicians following a meeting with Maronite Patriarch Beshara Rai. Kassar added that the Lebanese economy has the potential to improve, but that this can only be achieved in a secure climate of political stability.

“Lebanon’s economy has not lost its ability to return to the levels of growth seen in the past few years, and has the potential to compensate for [the slow growth] of 2011 and 2012,” Kassar said, adding that Lebanon has significant local funding sources that remain untapped because of instability. “Arab and foreign investors are looking to invest in Lebanon, and there are a lot of strategic projects waiting to be implemented,” he added.