Former Minister Raed Khoury considered that "the political class in Lebanon used the economy as a tool for its political performance," considering that "if things continue as they are, the situation will deteriorate."
He revealed in a statement that "the national production rate in Lebanon previously reached 55 billion dollars, while today it is under 20 billion dollars."
“A clear plan must be drawn-up to see how dollars can be brought into the productive sectors in the country,” Khoury underlined, adding that “forensic audit is a basic necessity, but it is not sufficient on its own.” He added that the problem in Lebanon is that the country relied only on the Central Bank which cannot do anything, and the banking sector cannot rise if the state is bankrupt.
"Politicians did not work for the economic advancement of the country. People want to live and secure the future of their children, yet these matters no one talks about," regretted Khoury.
He stressed that “those who are conducting negotiations with the International Monetary Fund did not speak with the private sector, banks, nor any party inside,” adding that "there are great capabilities among the Lebanese, but the state is absent."
Touching on the dollar peg issue, Khoury asserted that "the greater the demand for the US dollar, the weaker the Lebanese pound.” He also referred to the confidence factor which is essential as well, while noting that "the main aspect is bringing hard currency into the country."
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