Minister of Economy Emphasizes Urgent Need for Reforms in Lebanon's Ailing Public Sector and Banking Industry

Lebanon News
2023-09-19 | 06:26
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Minister of Economy Emphasizes Urgent Need for Reforms in Lebanon's Ailing Public Sector and Banking Industry
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Minister of Economy Emphasizes Urgent Need for Reforms in Lebanon's Ailing Public Sector and Banking Industry

Caretaker Minister of Economy Amin Salam emphasized on Tuesday that things are not going well in the country.

He noted that while the private sector is doing relatively well with some activity in the country, it cannot be said that the economy is doing well as the public sector in the country is paralyzed and collapsing.

Salam expressed his concern about the situation of public sector employees, describing it as "unenviable," and also mentioned that the banking sector is "paralyzed."

He called for the necessity of passing the required laws regardless of the path of the International Monetary Fund (IMF).

He warned against heading towards a worse situation if the current path continues without reform measures and the activation of constitutional institutions and positions.

Regarding reports of lifting subsidies on bread, he clarified that these reports are misleading, as the World Bank loan is ongoing, and wheat continues to arrive in Lebanon.

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