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Lebanon predicts negative growth in 2016
(MENAFN) Head of Beirut traders association Nicolas Chammas expects a negative increase in 2016, while the retail sector is revolving under the recent political crisis.
In addition, the country's economic performance in 2015 reached its lowest point, while this year will be even worse given the fast negative development in Lebanon.
Economist and experts fear that KSA, UAE and Qatar could take punitive measures against Lebanon like expelling a huge number of Lebanese expatriates working there.
Moreover, there are 500,000 Lebanese working in the GCC and the remittances they send to Lebanon annually are almost USD 5bn.
In addition, the country's economic performance in 2015 reached its lowest point, while this year will be even worse given the fast negative development in Lebanon.
Economist and experts fear that KSA, UAE and Qatar could take punitive measures against Lebanon like expelling a huge number of Lebanese expatriates working there.
Moreover, there are 500,000 Lebanese working in the GCC and the remittances they send to Lebanon annually are almost USD 5bn.
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