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28.5% of Lebanese live below poverty line, unemployment reaches 20%
23-2-2018
The economic bulletin for the fourth quarter of 2017 published by Fransabank indicated that the current rate of unemployment has exceeded 20% and that the country needs to secure annually some 22,000 jobs for young people anticipated to enter the labor market by 2019, noting that 28.5% of the Lebanese live below the poverty line. On the other hand, the bulletin showed that the performance of leading sectors has improved during 2017 as compared to 2016, which boosted economic growth from 1.1-1.4% in 2016 to 2-3% in 2017, according to the respective estimates of IMF and IIF. The report also revealed that the value of real estate transactions increased by 18.5% in 2017, the number of tourists by 10%, number of travelers via Beirut International Airport by 8.3%, hotel occupancy rose to 64.8%, electricity production increased by 14.6% and the Port Beirut revenues by 0.4%. The report said that the State’s finance has witnessed an improvement in public revenues by 13.7% between end-2016 and end-October 2017, while public spending increased by 2.8%, leading to a public deficit of USD 2.5 billion by 25% decline. (The report in English is available on the following link:
https://goo.gl/EUkXHP). (Al Akhbar, February 20, 2018)
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- العربية
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