Lebanese concerned about the decline of the Lebanese economy

According to a study done by Bayt.com on consumers’ indicators in the MENA region, participants from Lebanon expected a decline in the economy and in employment opportunities in the near future.  The results showed that 60% of participants believed that the Lebanese economy has regressed significantly during the past six months, 42% of which expected a greater deterioration of the situation during the same period.  As for the business environment, 21% of participants considered that it is good to very good, and 39% expected the situation to improve a year from now, on the opposite side 74% noted that jobs in Lebanon have become hard to get, and 37% expected a decrease in the number of employment opportunities during the next six months.
The results also showed that 69% of the participants expected a rise in the cost of living during the next six months and 60% noted that their savings have decreased compared to last years. The sales marketing at Bayt.com, Suheil al Masri, commented on these results and noted that there is an increase in the number of new projects in the Middle East region, a trend which contributes to creating jobs thus improving the general livelihoods situation.  However, he added, that this trend is accompanied by an increase in the cost of living thus explaining the decrease in household savings.

Source: Al-Diyar 23 September 2014