Hakim Voices Fears over Dwindling Investments, Employment of Syrians

W460

The Minister of Economy and Trade Alain Hakim voiced fears on Tuesday over the economic situation and the current paralysis as a result of the difficult security situation and the vacuum at the country's top post.

“The weakness and dwindling of investments at the local and foreign levels are wearing away the labor market that is already experiencing pressure due to the employment of Syrian nationals,” the Minister told An Nahar daily.

“The employment of Syrian nationals has become an existential threat to Lebanon and its economy,” he lamented.

Hakim voiced fears over the economic sector as a result of the deteriorating security situation, the vacuum at the presidential post and the thorny issue of abducted Lebanese soldiers.

He said that the above has an impact on the economy which could lead to a continuous recession and weakness at the investment levels which together with consumption constitute the basis of the economy.

Lebanon has accepted an astonishing influx of refugees since the Syrian crisis in 2011.

The tiny country is currently hosting more than 1.5 million refugees, a figure equal to over a quarter of the country's population.

D.A.

G.K.

Comments 1
Missing ysurais 14 October 2014, 15:37

hell wz syrian refugees..go home...