Geagea Says Banking Sector Keeping Lebanon’s Economy Strong
Lebanese Forces chief Samir Geagea hailed Lebanon’s banking sector saying “it is what’s keeping Lebanon’s economy standing” in light of the crises the country is facing, the National News Agency reported on Thursday,
“Unfortunately only the banking sector is what is keeping Lebanon’s economy standing, otherwise our economy would have faltered at several other sectors more that it is faltering today,” said Geagea.
His remarks came on Wednesday during the LF banking department dinner.
Commenting on the CEDRE Conference, Geagea said: “Cedre conference will provide Lebanon with $11 billion dollars most of which are loans. If we can manage well and stop waste and corruption, we can provide $ 2 billion without imposing any new taxes.”
In April, International donors pledged $11 billion in low-interest loans and aid for Lebanon at the CEDRE conference to try to avert an economic crisis in Lebanon hard hit by the fallout from the Syrian war.