Razazz cited the most pressing economic issues facing the economy, which are namely “the rising unemployment, the huge debt burden and its increasing ratio to the GDP, and the brain drain.”

Razazz’s remarks came during a conference organized by the Lebanese Economic Association (LEA), and the Friedrich Neumann Foundation (FNF), at the Crowne Plaza Hotel to discuss pressing economic issues. 

Speaking at the same conference, Jad Chaaban, President of LEA, said that “the immigration of nearly 15,000 to 20,000 people each year is one of the most critical issues facing the economy.”

He said that “the government’s spending as a share of the GDP stands only at 2 percent while the total size of investment is at 18 percent of GDP.” Chaaban said that the GDP stands at around $29 billion.

He said that the construction sector receives the bulk share of investments.