updates alternative plan
Extraordinary measures for extraordinary times
Highlighting that kick-starting the ‘real’ economy, especially the private sector is a prerequisite for any remedial plan, Lebanon Opportunities published an update to the ‘Economic Revival Plan’ initially released in January of this year.
The fiscal, monetary, and financial components of the plan were updated. The plan also includes more than 250 measures for economic revival.
The plan contrasts with the recently published government recovery plan. It advocates deconstructing the components of the crisis, and to devise tailored-made solutions to each, before aggregating them into a comprehensive and consistent plan.
There is no additional borrowing included because the economy cannot sustain more debt.
It also presents a series of proposals that avoid resorting to any type of infringement on customer deposits in banks.
Both sides of the national balance sheet are analyzed, adding public assets to the full economic picture.
The plan has identified 20 ‘sacred cows’ that merit revisiting and slaughtering. This includes the usage of gold, private sector involvement in operating public services, reforming social security, combating tax and Customs evasion, administrative reform and decentralization, and many others.
An outline is included on how to balance the budget, reduce public debt, and reverse the bleed in the balance of payments.
The plan says that eroded confidence is a prime reason of the crisis. Measures to restoring it are a prerequisite for success.
Lebanon Opportunities has called upon interested parties to endorse the plan in order to show support for its vision and approach.
Click here to view and endorse the plan
Date Posted: May 04, 2020