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Alarming economic indicators in Lebanon whilst government is busy

13-7-2017

Eight months passed since the formation of the government which has yet to produce a readjustment economic plan for the country. In the meantime, latest statistics have shown worrying indicators about the economic situation. According to the Association of Banks in Lebanon (ABL), the overall public debt grew by the end of April 2017, to USD 76.9 billion, compared to USD 74.89 billion at the end of 2016. In other words, the public debt increased by USD 2 billion during the first three months of the present year against a USD 1.3 billion increase in the first 1/3 of 2016. Moreover, the balance of payments continues to register a cumulative deficit despite a decline from the past year. In this respect, Byblos Bank weekly monitor said the balance of payments posted a cumulative deficit at USD 357.6 million in five months, against a cumulative deficit at USD one billion and 67 million during the same period of last year. In parallel, a report published by the World Bank three weeks ago, anticipated a 2.5% increase in the average economic growth in Lebanon during 2017, with an accelerated pace of the overall real GDP growth at 2.6% during 2018 and 2019. (Al Mustaqbal, Al Diyar, Al Akhbar, June 24 and 25, July 11, 2017)

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German relief kitchen to needy Syrian and Lebanese families in Baalbak

13-7-2017

The head of the Lebanese Organization for Studies and Training (LOST) in Baalbak, Rami Lakkis, received from the head of the German NGO ‘Helpers of the Orient’, Christian Springer, a mobile kitchen with a capacity to deliver 500 free meals to needy Syrian and Lebanese families in the area. The project, Lakkis pointed out, is a continuation of previous schemes in this field, that were made possible via supportive efforts of above two associations including distribution of clothes and livestock among a number of poor households, a hydro-electric generator to the village of Talya and a garbage truck for the town of Kfardan. Springer on the other hand, said: “We asked students in Germany to paint the outside wall of the kitchen. The outcome was messages in 11 different languages from children of different nationalities, including Africans, Arabs and Syrians.” Springer explained that the project reflects a partnership among people, notwithstanding the divergent countries, regions or views toward the issue at hand, as he put it. (Al Mustaqbal, July 13, 2017)

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EU support to host and refugee communities in Taanayel

13-7-2017

The head of the European Commission Delegation to Lebanon, Christina Lassen, inaugurated last week a number of water and power services in the Beqaa town of Taanayel. The project comes within the framework of ‘Improving Water and Sanitation Infrastructure, Solid Waste and Energy, and Supporting the Local Agro-Food Sector in the Beqaa for a Better Access to Basic Services for Host and Refugee Communities’ initiative implemented by Arcenciel association. The newly-installed facilities include: the construction of water supply and storage networks for irrigation and drinking water; waste water treatment to be re-used for irrigation purposes; rehabilitation of irrigation networks; installation of 316 solar powered electricity and water pumping panels; production of heating bricks from recycled pruning wastes, and finally, development of post-harvesting infrastructure tools to preserves some 1600 tons of agricultural produce per season. To note, the Euro 2.5 million project, supported by the EU, is part of a broader Euro 18 million program aimed at improving the infrastructure and economy of local communities in the areas of Beqaa that are most affected by Syrian displacement. (L’Orient Le Jour, July 11, 2017)

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Roadmap to develop SMEs and for greater employment

12-7-2017

The minister of economy and trade, Raed Khury, inaugurated yesterday from BIEL the Lebanese Forum for Small and Medium Enterprises entitled ‘your needs are our challenges’ aimed at achieving an economy of scale and greater employment prospects as well as enhancing Lebanon’s leading role in the region. Khury spoke of new measures that would contribute to bolstering and developing the capacities of SMEs, highlighting the need to plan a clear-cut and political-free economic strategy that identifies the country’s economic role and introduces a series of dynamic undertakings inspiring economic growth and creating jobs. For his part, the president of the Federation of Chambers of Commerce, Mohamad Shucair, said the Forum has helped to develop a roadmap that addresses dilemmas faced by SMEs and proposes ways to activate their performance. A disadvantageous factor that impedes SMEs businesses, Choucair noted, is the lack of a favorable environment, a declining trust on part of customers and a skyrocketing operational cost (in taxes, insurance and cost of services…), in addition to financing, competition and product marketing related challenges. Banque Du Liban governor, Riad Salameh, said SMEs play a crucial role in national economy as the largest generator of jobs. “We extended subsidized loans for some 19 years to sustain our institutions going through serious but circumstantial financial crisis,” Salameh noted. Likewise, the minister of industry, Hussein Haj Hassan, mentioned that the majority of SMEs work in the IT, industry, commerce and agriculture sectors. These enterprises, he stated, are the dynamo and stimulus of domestic economy in terms of their open employment potential, however, he added, they are faced with considerable difficulties in terms of competition and securing marketing outlets. (Al Mustaqbal, Al Diyar, An Nahar, July 12, 2017)

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President Aoun: Lebanon must shift to real productive economy

11-7-2017

The President of the Republic, Michel Aoun, said Monday that production-based economy ensures stability and supports the national currency, stressing the need to move from a rentier state into a real state which derives its wealth from domestic production. Aoun added that Lebanon welcomes those willing to invest in it, warning it is unacceptable to continue to sway under debt and depend on global markets, international aid and the World Bank to survive. Aoun was speaking at Baabda Palace before a delegation participating in the Lebanese Forum for Small and Medium Enterprises expected to start today at BIEL, Beirut. The president revealed that Lebanon is currently cooperating with one of the world’s leading institutions to finalize a study on ways to revive the Lebanese economy. Anticipations for the near future are alarming, Aoun stated, especially if “we do not act in a systematic way across all sectors.” “We are working to reform the financial situation and to assist SMEs,” the president said, adding, “It is important to produce, but it is also vital to secure markets and that is primarily the responsibility of the State.”  
(Al Diyar, Al Mustaqbal, An Nahar, July 11, 2017)


Previous related news: 
Launch of SMEs Lebanese Forum
 

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Positive results for maritime export bridge!

7-7-2017

Despite an earlier gloomy report by the Investment Development Authority of Lebanon (IDAL) on the disappointing outcomes of the first year of the sea bridge in support of Lebanese exports, (http://bit.ly/2k282L1), Al Mustaqbal newspaper published new data covering the period from 17/9/2015 to 31/3/2017 which showed that the program has achieved positive outcomes as compared to its set objectives. The program, according to the report, has ensured the flow of Lebanese production to traditional regional markets, notably, the Arab Gulf and Jordan, and has sustained the distinctive presence of made-in-Lebanon goods. To be noted, that since its launch, the above program has faced criticism from concerned parties, the last from the president of the Lebanese Industrialists Association (LIA), Ziad Bekdache, who decried the waning activity of land transported exports. Bekdache criticized the high cost of exporting via the maritime bridge which, he said, is far from competitive (c.f: http://bit.ly/2to0ypg). Back to the data cited in Al Mustaqbal, it indicated that during the first year and 7 months of the implementation of the program, overall exports reached 103853 tons between agricultural products (92557 tons) and industrial goods (2621 tons), while noting that Saudi Arabia, came first among the countries of destination as well as the size of products exported, (nearly 58101 tons, accounting for 55.94% of the total sea program exports.) The numbers showed vegetables and fruits made nearly 92.5% of the total Lebanese agricultural exports to the Gulf states and Jordan, whereas agro-food goods represented close to 8.6% and the industrial exports 5% of the overall size of exports, were only 2621 tons were exported during the latest stage of the sea bridge period. The number of exporters aligned with the program were 241 exporters. (Al Mustaqbal, July 5, 2017) For more information, please visit the following link: http://almustaqbal.com/v4/article.aspx?Type=NP&ArticleID=742734

 

Previous related news: 
Second phase of export sea bridge kicked off
http://www.weeportal-lb.org/news/second-phase-export-sea-bridge-kicked
First year results of M.LEB below expectations
http://www.weeportal-lb.org/news/first-year-results-mleb-below-expectations
More welcoming of border closure and demands for further tightening measures
http://www.weeportal-lb.org/news/more-welcoming-border-closure-and-demands-further-tightening-measures
Can unilateral protectionism save Lebanon’s declining agricultural sector?
http://www.weeportal-lb.org/news/can-unilateral-protectionism-save-lebanon%E2%80%99s-declining-agricultural-sector
 

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Euro-Lebanese cooperation to export pharmaceuticals to Europe

6-7-2017

The industry minister Hussein Haj Hassan and the European Commission ambassador to Lebanon Christina Lassen sketched this week a road map to facilitate recognition, registration and export of made-in-Lebanon pharmaceuticals to Europe markets. Following a joint visit to pharmaceutical manufacturers, Benta Group (in Dbayeh) and Algorithm (Zuk Mkhail), both parties agreed to prepare the registration forms for interested plants and the types of medicinal drugs they manufacture, to be submitted to the European delegation visiting the country next September. The delegation is expected to evaluate the requests in line with required specifications before indexing them under European pharmaceutical lists. The European Commission Embassy in Lebanon will accordingly report to the ministries of public health and industry and push the process in the right direction, while noting that this agreed mechanism covers the 11 pharmaceutical manufacturing plants in the country. Haj Hassan disclosed after the tour that the European delegation was briefed on the expansion and advanced features of the pharmaceuticals sector in Lebanon which, he stressed, qualifies it to enter Europe. He pledged to go far in order to increase Lebanese exports to Europe in various productive sectors, including pharmaceuticals. (Al Diyar, Al Mustaqbal, July 5, 2017)

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Launch of SMEs Lebanese Forum

6-7-2017

The minister of trade, Raed Khury, announced yesterday the imminent launch on July 11 of the Lebanese Forum for Small and Medium Enterprises under the headline, ‘Your needs are our challenges’. The statement was made during a press conference attended by owners/managers of SMEs, the ministries of tourism, energy, industry, agriculture and communications, and Banque Du Liban which will be represented by its governor. During the conference, Khury described the country’s economy as ailing, pointing to only 1 to 2% in economic growth, besides the unemployment rate which exceeded 25%, and an economic cycle that did not achieve any positive outcomes. Khury pressed the need to focus on SMEs that account for nearly 95% of the companies operating in Lebanon and which face fierce competition, stressing the prominence of the sector which employs the biggest number of Lebanese that stay steadfast in their land and in their villages. The forum, Khury disclosed, is expected to issue feasible recommendations, conclude a cooperation agreement with the World Bank to stimulate creation of jobs, develop a plan to facilitate customs procedures and a draft law to motivate active presence of SMEs in international exhibitions. Finally, the minister of economy and trade revealed that the conference is fully supported by the president of the republic and the prime minister, hoping it will be the start of an economic renaissance, and surprisingly predicting an increase in GDP from USD 52 billion to USD 100 billion during the next 7 years (!). (Al Mustaqbal, Al Diyar, July 6, 2017)

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ISO standards for Lebanese educational institutions

4-7-2017

The ministers of industry and education, Hussein Haj Hassan and Marwan Hamadeh, opened for the first time in Lebanon the works of the International Organization for Standardization (ISO) affiliated committee involved with setting quality specifications in academic institutions. The event which took place yesterday was organized by the Lebanese Standards and Specifications Institution (LIBNOR), with the participation of representatives from 25 countries, the head of the Specialized International Committee at ISO, Sonyong Yoon, and ISO experts. On the occasion, Hamadeh said the development of educational institutions according to modern standards in an accelerating digital world has become a necessity to enhance the administration, performance and services of these institutions. Hamadeh hailed the significance of hosting this global meeting in Beirut, given the anticipated output of a sector concerned with the orientation and preparation of Lebanon’s treasured human resources that are supposed to build and develop the nation. For his part, Haj Hassan, emphasized the importance of setting new mandatory, and not optional, specifications to establish a framework for quality and management, increase productivity and secure the safety of products as well as overall safety across the industrial, engineering, construction and food sectors, up to the administrative systems in the educational institutions. (Al Mustaqbal, An Nahar, July 4, 2017)

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MoSA and Lebanese Food Bank partnership

4-7-2017

The ministry of social affairs (MoSA) said it will soon be launching a partnership with the Lebanese Food Bank charity. The aim, MoSA explained, is to reach food and finance sources and expand the network of beneficiaries and emergency crew, pointing that it currently provides monthly rations for over 10 thousand households through a special food card. On the announcement, the Food Bank president, Kamal Sinno, pointed out that nearly 37.5% of the Lebanese people are deprived and needy, with 400 thousand living under the poverty line. “Hunger has been breeding in disguise since years in Lebanon,” Sinno maintained, making clear that the Bank does not buy or cook meals. “Food is there but is misspent,” he lamented, pointing to endless sources of food from: wedding events and festivities, regular donations from concerned bakeries, ready meals prepared by generous housewives, food surplus from hotels and eateries, veggies and fruits from farmers and importers, in addition to all kinds of non-expired canned goods. A key rule of the Food Bank, Sinno clarified, is that it takes from all areas of Lebanon and distributes to everyone across the country. Delivery operates through 70 local associations carefully selected out of 11 thousand involved groups, Sinno said. The Bank’s work is not limited to distributing food only, but also receives and supplies stationaries, kitchen utensils, infant milk, furniture, toys, cleaning accessories and unused wear, Sinno concluded. (Al Mustaqbal, An Nahar, July 2, 2017)

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