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Khazen

middleeastmonitor.com —Congratulations are in order for Nadine Labaki. It’s been announced that the Lebanese director’s Capharnaüm is up for another prestigious award. …

by Donna-Abu-Nasr — bloomberg –– Lebanon’s caretaker economy minister said there are no plans to restructure debt after the finance minister was quoted as …

by aawsat.com — Lebanese parliament Speaker Nabih Berri proposed on Wednesday the postponement of the upcoming Arab League economic summit in Beirut …

economic problems, Lebanon,
By Tina Abou Rizk (Jounieh) bytheeast.com -- -- In order to deal with its economic problems, Lebanon needs to first address corruption and the lack of transparency, think the leading economists following a “damning report” of McKinsey. The said report, released by the “Ministry of Economy”, fills “1,200” pages warning the government of a “crippling political stalemate” grip, whereby claiming an economic collapse in the country. Amid the economic problems in Lebanon, one particular figure causes disturbance, whereby revealing that the Lebanese spend an extra 50% time than what’s “needed on congested roads”, while only fifteen percent of the roads are “in good condition”. Furthermore, the report also mentions that the Lebanese infrastructure is ranked “113th out of 137 countries”. The Head of External Relations at the “Dubai International Financial Center” as well as the ex-chief economist, Dr. Nasser Saidi stated: “These numbers come from a variety of sources like the World Bank and others, so these have been assessed by various international parties”. “What’s more important is the cost of this in terms of productivity and income, because when you spend time on the road you aren’t producing anything, so congestion costs are very large in terms of both loss of business opportunities, lost income and lost productivity.”

However, economic problems are also linked with the country’s electricity quality, for Lebanon stands as the “world’s fourth-worst quality of electricity”, as a fellow associate from the “Chatham House”, Nadim Shehadi, said: “Electricity in Lebanon is just more expensive, but everyone has 24-hour electricity if they can afford it”. “If you measure electricity supply by state provision then it’s the worst in the world, but if you measure it by what’s available to people, it’s not so bad. There are sometimes indicators that have to take into account the fact that Lebanon is a mixture of private sector, illegal activity and government sector, and sometimes illegal activity compensates for the government sector.”

Khazen History

Historical Feature:
Churches and Monasteries of the Khazen family