Lebanon’s Economy Minister Amer Bisat has acknowledged his country’s difficult relationship with both Arab and Lebanese investors, saying that confidence was “lost very quickly” during years of economic and financial crisis.
Since 2019, Lebanon has been struggling with a historic fiscal crisis, caused by decades of corruption and mismanagement by the ruling elite. The prolonged collapse has left many investors wary and deprived people and businesses in the country of accessing their money stuck in the banking sector.
The crisis has slashed economic output, hollowed out public finances and eroded long-term trust in state institutions, while reform efforts have repeatedly stalled amid political deadlock.
“Our relationship with our Arab investors is as … fractious or problematic as it is with the Lebanese investors,” Mr Bisat told The National on the sidelines of the World Governments Summit in Dubai.
“Let’s not forget that we all went through a horrible period,” he added.
Mr Bisat said the government is focused on practical measures
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