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The emerging diplomatic crisis with Gulf countries will derail the adjustment and recovery efforts of the new Cabinet considering the deep-rooted relations these countries hold with Lebanon, Bank Audi said in ‘Lebanon Economic Report’ for the third quarter of 2021.
Annual exports to GCC countries total $1 billion and represent 30 percent of overall exports. Nearly 380,000 Lebanese expatriates working in the Gulf region send each year $3 billion in remittances which is equivalent to almost half the total of remittance inflows. More than 2...more |
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