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Lebanese Economic Report

519 words - 2 pages

-The 1975-90 civil war which was due to various religious and ethnic factions caused a major damage in Lebanon’s economic infrastructure, as it cut national output by half and damaged Lebanon’s position as a entrepot and a banking hub caused a major rise of inflation government instability.-In order to regain control over the country with the help from outside forces peaces has enabled the central government to restore control in Beirut begin collecting taxes and regain access to key port a government facilities. As a result current GDP per capita expanded 353% in the 1990’s as standard f living began to return to the days before the war.-The current government under the Premier of Fouad Siniora and Emile Lahoud is split between major influences from Iran and Syria or the US and EU thus after the war between Hezbollah and Israel this really brought the economic reform and build up which was expected of Lebanon to its public debts made thins even worse. After the first civil war international aid was the main source of foreign exchange.Lebanon’s economy made gains from the launch of “Horizon 2000” which was a $20 billion reconstruction program in 1993. Results were GDP growing 8% in 1994 and 7% in 1995 before Israel’s Operation Grapes of Wrath in April 1996 which stunted economic activity. Due to the problem that Lebanon depends on outside for help this has really worked against it as who ever tries to get involved wants control in their set of ideas.-Lebanon’s sectors of the economy are agriculture, industry and services &...

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