Lebanese economist: 90% of population below poverty line
A prominent economist on Saturday stated 90 percent of the Lebanese population is below the poverty line. In a lecture Saturday at Notre Dame University where he serves as dean of the business administration faculty, economist Elie Yashou'i said "Revenues from immigrants are credited for some of the surplus in Lebanon's trade balance. Consequently, there is a dire need for opening more channels to the main population centers of the émigrés."
According to A Nahar, official statistics indicate more than 8 million Lebanese immigrants live currently in Brazil and neighboring Argentina alone.
Yashou'i said per capita income should be $600 a month to stay above the poverty level line, while the minimum salary rate in Lebanon stands at $200 a month.
"Eighty-five percent of savings in Lebanon belongs to 20 percent of the population, while 1,000 out of 25,000 handle 90 percent of Lebanon's total imports. Consequently, 10 percent of the population enjoys good living and 90 percent suffers horrendous hardships." (menareport.com)
© 2004 Mena Report (www.menareport.com)