Minister of Finance: IMF report did not criticize government policies but pointed out to the unfavorable general context

The Minister of Finance, Ali Hassan Khalil, commented the recent IMF report by noting that any analysis of its content should be done in the context of the impacts of the Syrian crisis on economic growth lest it be partial and flawed, adding that the report did not criticize government policies but underscored the difficult general context. Al Khalil noted that the report speaks about the political crisis in Lebanon, the need for structural reforms to address competitiveness, laying the foundation for a reinforced productivity and improving living conditions.  However, and according to Al Khalil, the report also points out to Lebanon’s inability to bear the cost of the Syrian displacement and the need for international aid assistance.  Al Khalil considered that the levels of economic growth referred to in the report are low compared to the pre-Syrian crisis period and that was due to the slow down in activities related to real estate, construction and tourism.  He added that the financial implication of the Syrian displacement on the treasury cannot be calculated accurately because there are no specific budgetary allocations for these items.

Source: Al-Safir, Al-Nahar 8 August 2014