Miqati: The Economy Should Not be Exploited for Political Gains
Prime Minister Najib Miqati stressed in a statement he delivered at the Annual Arab Banking Conference on Friday that the economy should not be exploited to achieve political gains.
In his statement the PM stressed that Lebanon has achieved a slight growth rate despite the changes fanning out in the Arab world.
“Although Lebanon was influenced negatively by the political, security and economic situation in the Arab region and the world, it was the least vulnerable to the effects of the global financial crisis. Its banking sector maintained resilience and immunity,” said Miqati.
The cabinet is seeking to study ways to achieve the social-economic reform in a bid to strengthen the economic framework, help the private sector, rehabilitate the infrastructure, develop education, health care and social health. It also aims to support regional and municipal development, added Miqati.
The cabinet seeks to activate and unify the vision about the role of the private sector, and to issue a law of partnership between the public and private sectors.
In light of the regional and global economic situation prevailing, Miqati stressed that efforts to thwart obstacles facing the national economy are one of the cabinet's goals, including tourism and exports.
The cabinet is in efforts to improve the electricity sector by increasing the production capacity, and invest the region's economic resources.
In the telecommunications sector, “we are in the process of setting up a mechanism to draw a clear policy for communications and information technology based on Law No. 431,” said the PM.
Elaborating on Lebanon's banking sector, he said it was able to maintain its immunity and role increasing total deposits in Lebanese commercial banks, an average of seven percent annually. At the same time claims on the private sector grew at an annual rate of approximately ten percent.
All the above confirms the distinguished role of the Lebanese banks in the financial sector in the Arab region, said the premier.
Miqati concluded addressing all political powers in Lebanon that the government will not succumb to the first crisis it faces.
“We should not exploit the economy for political purposes. The economic sector should be given the priority. We reject using the economy to achieve political gains,” he said.