The era of the advancement of Lebanon started and the train of reforms was launched amid Arab and international support
The Economic Bulletin of the Lebanese News Agency, within the economic file of the Union of Arab News Agencies “Vana”.
Beirut, July 9 / WAM / About six years after the crisis, hope for the advancement of Lebanon, Amal, began with the New Testament, the era of the President of the Republic, General Joseph Aoun, and a government headed by Judge Nawaf Salam, which took it upon itself to implement reforms to be able to obtain assistance from the International Monetary Fund and support other countries and international organizations.
The Ministry of Economy initiated plans and program for all economic and living files and sectors, supervised by Minister Dr. Amer Bastat, who spoke to the “National Media Agency” about his program, the plan of the Ministry of Economy and how to get out of the crisis.
Batat said that “it cannot be said that the Lebanese economy is in a sound situation and it is not where it must be, and we are not the stars of reality, because the economy is still suffering from a deep and structural crisis, which affected every home and every sector, from the erosion of the purchasing power to the decline in production, to the crisis of deposits. The truth is that we are still in the midst of the crisis, and we are not yet in the stage of actual recovery.”
He stressed that “there are important signs that appear clearly despite the pain on the ground, for the first time in years, there are things that indicate that the government is dealing with the economic crisis in a serious way, and that the Lebanese and the international community look at the government as a team that works hard and sincerely seeks to change the path.
He added: “We see a real response from international institutions and financing agencies that were absent or hesitant. We also witness a new involvement of businessmen, industrialists and local investors in a reform vision. This alone is not enough, of course, but it is a new confidence factor that we have not seen with this clarity for years.”
He believed that “the positive of this scene lies in changing the dialect, moving the intention, and expanding the circles of serious work on sustainable solutions.”
As for the negatives, the Lebanese Minister of Economy and Trade spoke about “the continued slowdown in some state institutions, and people’s confidence in public policy declined, and he said:” This is what we are working on dealing with all available means. “
He continued: “No one will give that the government has received its duties in very accurate circumstances, amid unprecedented economic -social crisis, and a near -complete lack of confidence between the state and the citizen. However, I say with confidence that we started putting the hand on basic files, and we have introduced actual reforms in some economic and administrative paths, especially in the banking file (by raising banking secrecy and setting a legal framework to restructure banks),) As well as in the files of appointments and economic governance.
He explained that “the work is still in its beginning, and the road is long, but what is hoping is that all the ministers today are working seriously and harmoniously, and everyone focuses on its file within a common goal which is to implement the minimum reforms that each sector needs in the state, and we have a government team on a high level of efficiency, technically homogeneous, and every minister knows the priorities of his ministry and works on it without wasting time The ministries, and the Ministry of Economy are currently leading the course of preparing the medium -term economic vision document in cooperation with all the relevant ministries, with the aim of creating a comprehensive and integrated national approach to the advancement.
The Minister Basta spoke about the challenges, including administrative complications, the pressure of time, and traditional political divisions, saying: “Certainly, we are facing them today with a serious, coherent, and determined team to achieve actual results, even within a limited time margin.”
As for the ministry’s plan, he said: “We are working on seven parallel strategic files, which constitute the basis for moving the economic wheel and restoring confidence, which is the formulation of a medium -term economic vision until 2035, and the protection of the consumer by controlling markets and prices, by activating field control and enhancing consumer protection mechanisms, along with a structural path to stabilize stability through fair competition, competition law, and sector support Private, by improving the business environment, creating a “One Stop Shop” system, promoting foreign trade, stimulating partnerships between the public and private sectors, in addition to stimulating credit and providing financing for small and medium enterprises (SMES), as one of the pillars of sustainable economic growth, reforming the insurance sector, procedures in terms of environmental safety, memorial and a new construction plan within a strategy Food security, and Rashid Karami International Exhibition in Tripoli, which we are working to reactivate economically and tourism in partnership with the private sector.
The minister revealed that he is currently leading “an integrated study of the development of a medium -term economic vision for Lebanon, on the horizon of 2035, based on productive justice, competitiveness, and sustainable growth.” He said: “From this standpoint, we started direct communication with all the relevant ministries, because the role of the Ministry of Economy is not only technical, but my coordination and my vision par excellence, and it is eligible to lead the comprehensive national workshop.”
He continued: “Our goal is to build a balanced economy that is not only based on external support, but also on our own capabilities and investing our human and material energies in a fair and productive manner.”
In response to a question about negotiations with the IMF, and can the agreement be completed despite the age of the government? The minister said: “We believe that any program with the International Monetary Fund must reflect first and foremost our national priorities, not to be imposed from us from abroad. We need this agreement because we need to restore the credibility that the Lebanese state lost in the past years, but this will be our program, we determine its content in accordance with our interests, and we refuse to enter any item that does not in the interest of Lebanon, its economy and its people. An administrative or paper signed – it is a comprehensive and comprehensive negotiating path that requires the availability of a number of reform, political, and legislative conditions, and it cannot be accomplished by a single -party decision.
He added: “I personally participated in working on several files with the IMF previously, in cases similar to the Lebanese situation, and I can confirm that this type of negotiation takes a natural time, and passes in several stages and successive negotiating tours. What we are currently doing is a solid, technical and political ground, for the next round of discussions, which I expect to condense in the coming months.”
And he added: “We follow with the fund through regular technical meetings, and we focus on providing a realistic and coordinated approach to each file, including restructuring the banking sector, monetary policy, financial policy, and justice in the distribution of losses, although the age of the government is limited, but we are working at an accelerated pace to achieve the largest possible amount of progress, especially since any agreement with the IMF is not a goal in itself, but rather a means of rebuilding confidence – Citizen confidence first, and the confidence of international partners second. “
As for the high prices despite the stability of the dollar exchange rate, he confirmed his understanding of people’s pain. On the other hand, the cost of production in Lebanon is very high. For example, the cost of electricity paid by the industrial or merchant in Lebanon reaches about 30 cents per kilowatt, compared to about 5 cents in Egypt. This huge difference in the cost of energy is reflected directly on the prices of goods and services. In addition, many sectoral files need restructuring and organization, from importing to transportation, to customs protection, weakening distribution chains, all factors that raise the final cost of the citizen.
He stressed that the ministry plays its role in controlling the markets as much as possible, as part of the capabilities very limited; It has only 70 observers and inspector active on the ground, covering all Lebanese lands, which is not enough, “but despite that, we have intensified the supervisory tours, raised the pace of control, and we work in direct coordination with the Ministry of Justice to refer everyone who is proven to be tampered with or monopoly to the competent judiciary.”
He said: “We are working on a new bill that we promise to increase the fines imposed on violators, because the current fines are weak and do not deter. Inflation, and in reducing rentier practices that lead to waste of resources, also enhances the efficiency of their allocation, reduces the cost of production, and pushes towards promoting competitiveness, which improves the economic feasibility of existing and new investments. “
He pointed out that “the approval of the law is not sufficient alone”, and that “the serious application requires clear institutional steps, and he said:” We are currently working to form a competition for competition that consists of competencies that enjoy integrity and independence, and a clear behavior blog is committed to a clear behavior, as it will be entrusted with preparing the applied decrees necessary to put the law into full implementation. ”
He revealed that the ministry is in the process of establishing a specialized technical unit concerned with monitoring and investigation operations, and provides analytical and systematic support for the work of the authority and its executive council. He said: “This path, due to its structural character and its profound impact on the structure of the national economy, requires a serious time and investment in resources, and we are committed to implementing it with an accurate method that extends for a full year, as part of a clear and studied action plan.”
He pointed out that “Lebanon is going through a deep and long crisis, and this cannot be denied. But in return, we are a country that has huge energies and economic capabilities that are not yet invested from human competencies, to its geographical location, to its expatriate existence, and to its productive capabilities in the sectors of agriculture, industry and services,” stressing: “If we are pleased in the right path, and we continued to implement the required reforms, then we are seriously We are able to double the size of the Lebanese economy during the next decade, increase its competitiveness, and retrieve its natural position in the region, and these are not random promises, but numbers based on realistic studies and to what we have started to find from local and international response.
As for the depositors ’money, he said that the file is managed primarily from the Ministry of Finance, which is doing a serious and responsible work in this field, in addition to the Bank of Lebanon, which is concerned directly with monetary and banking policy,” pointing out that he participates in the discussions taking place within the government team, and follows the file from the Ministry of Economy website.
He believed that “dealing with the crisis of depositors is going through three interconnected stages: the approval of the law of raising banking secrecy, and this has been achieved, which is an essential step towards transparency and accountability. Approving a new legal and organizational framework, ensuring that this catastrophe is not repeated in the future, by updating financial laws, controlling the work of banks, and enhancing the powers of the regulatory authorities, and this stage may be technology and boring in its details, but it is necessary and essential to build confidence again. A fair and clear perception of the current crisis aimed at finding a just solution to the crisis of depositors and recovery of the banking sector, and it is still a cautious debate, because it requires an accurate balance between people’s rights and the capabilities of the state and the banking sector.
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