The President of the Lebanese Franchise Association reveals alarming economic figures of 2013

The President of the Lebanese Franchise Association Charles Arbeed revealed that economic figures for 2013 show a 25% decline in the commercial sector and a 35% decline in the tourism sector.  The construction sector which is considered to be a key economic indicator has shown a decline of 17%.  This is the overall situation of most economic indicators as shared last week during a seminar entitled the Economic Round up for 2013 and which was held at the Press Club in Furn Al-Chebbak. Arbeed attributed the reasons for the sluggish economic situation to the poor political situation in Lebanon as well as the security outbursts.  He noted the necessity of declaring a national economic emergency and the need for employers and traders to take on necessary steps to improve the situation in 2014.
Arbeed further added that the poor performance of the economy was concomitant with a 20% population increase as a result of the influx of displaced Syrians against a growth rate of less then 1% which Arbeed described as catastrophic.  Finally, he urged officials to inform the population of the real situation and to take on the necessary measures to redress it.
Source: Al-Diyar 28 December 2013