Lebanon Businessnews News

InfoPro citizen poll shows
no confidence in gov’t plan
Just 17 percent of people and

ten percent of companies are in full support

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Poll results

Two thirds of citizens do not trust figures presented in the financial recovery plan that was approved by the government late last month.

In a citizen opinion poll conducted by InfoPro, only 17 percent expressed full support for the financial recovery plan. Nearly 44 of them announced their total rejection of it. As for the rest, they expressed support for some of the contents of this paper while rejecting most of it.

In another poll InfoPro conducted with leading companies from the private sector, only ten percent of respondents expressed their support for the plan provided the government undertakes all the promised reforms. A third of the respondents expressed their absolute rejection of the plan. The rest of the sample refuted certain points but did not accept the plan as a whole.

In both surveys, the government’s recognition of an enormous magnitude of the financial problem was the main item winning approval, but most of them did not have sufficient trust in the numbers included in the plan.

Many negative points were raised by the people polled. One of these points is that the plan was theoretical and practically inapplicable because it did not identify the actual steps that would be taken. The respondents rejected the high exchange rate in their view of the dollar against the lira, especially that anti-corruption and poor productivity in the public sector were not given adequate attention, as well as the failure to address social problems such as poverty, security, and weakening purchasing power.

The same opposition to the plan was reflected in the positions of a number of economic stakeholders. No business organization or trade union has so far supported the plan. A number of them issued statements denouncing their lack of involvement in the preparation of the plan. They also expressed many points of disagreement with the plan. The association of economic bodies described the plan as containing destructive steps, while the Association of Banks feared that the plan would lead to a final loss of investor confidence, and denounced a large number of its provisions.

Date Posted: May 13, 2020
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