Tourism is the key to turn round the Lebanese economy
Preserving political stability will boost economic growth and enable Lebanon to attract foreign investment
The economy needs a thriving tourism season to compensate for the current political and economic crises, said the head of the Economic Association Adnan Kassar Thursday. Kassar warned that further deterioration in security conditions in Tripoli would deal a major blow to the already-struggling economy.
“Growing the economy requires political and security stability, which are now both lacking,” he said. Kassar reiterated concerns voiced earlier by various private sector officials, adding that the economy had been seeing unprecedented recession.
“The economy performed better even when it faced major political and security turmoil,” he said. Kassar called on the government to clamp down on any sides violating the country’s security, urging politicians not to provide protection to violators.
“Preserving political stability will boost economic growth and enable Lebanon to attract foreign investment,” he said, adding that Lebanon could become a haven for investments in light of turmoil raging across the region. He urged politicians to avoid tense political language and adhere to a code of conduct that prevents any incitement of the media.
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