Any Economic Collapse Will Affect All, International Community’s Confidence in Lebanon NullSource: www.export-egypt.com 4/1/2019, Location: Middle East |
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Minister of Labor, Kamil Bou Sleiman, pointed out that the ratio of public debt to GDP in Lebanon was 150%, which is the second highest in the world.
“The debt service ratio is 52%, which is the highest in the world and the rate will increase at the absence of swift action,” the Minister said in an interview with “Free Lebanon” radio station. Bou Sleiman warned that expenses in Lebanon had accumulated and a series of firm steps and measures must be taken to improve the economic situation. “The Lebanese Forces (LF) has developed an integrated plan of 7 items; in case of an economic collapse, the damage will affect everyone, not only a certain category, so reducing expenses is substantial,” he added. Touching on the electricity dossier, Bou Sleiman pointed out that the “Lebanese Forces" electricity proposals and solutions were based on studies and workshops conducted by experts and specialists, hoping that this plan would be further discussed with the Minister of Energy and other political parties. "We do not want temporary solutions, especially as we have been previously classified among the world's three worst electricity sectors along with Yemen and Malawi,” Bou Sleiman added. As for the communications dossier, the Minister refused to express his “premature opinion”, pointing out that the involvement of the private sector in the telecommunications sector had been proposed due to the fact that the Lebanese state did not benefit from this sector’s revenues. He also stressed that the government had taken a decision to stop random employment. “The situation is very tough, so we have to take things seriously and stop imaginary and random jobs.” "If we do not take appropriate decisions, the International Monetary Fund (IMF) will take decisions on behalf of Lebanon," he went on to warn. “We need a comprehensive and objective study of all public facilities and we need an integrated plan; we can not fight numbers with slogans,” he added. On the US sanctions, he said that banks were obliged to apply them on Hezbollah, “therefore, do not fear the negative repercussions of the US administration towards Lebanese banks." Regarding the situation of the labor law in Lebanon, he said, "We have set up a committee to discuss the modernization of the labor law and we will endeavor to draft a new one.” "As far as foreign domestic workers are concerned, I have asked non-governmental organizations to prepare a study in order to advance a draft law that goes in line with the international law,” Bou Sleiman concluded. |
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