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LFA President Arbid to LBCI: Economic activity on a sharp decline

24-12-2013 | 05:07

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LFA President Arbid to LBCI: Economic activity on a sharp decline

President of Lebanese Franchise Association (LFA), Charles Arbid, stressed on Tuesday that the country's economic activity is on a sharp decline, noting that the demand on real estate has decreased by almost 17%.

"The economic indicators are low in light of the economic problems resulting from the current political situation," Arbid said in an interview with LBCI's Nharkom Said TV Show.

For his part, President of the association of tourist agencies, Jean Beyrouty, noted that "only the political crisis is affecting all sectors in Lebanon," and said: "We are paying a heavy price for it".

Beyrouty described the tourism sector as "tragic," noting that tourism is one of the most affected sectors this year.

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