World Bank advises Lebanon to apply improvements to prevent another breakdown
(MENAFN) The World Bank advised Lebanon to quicken applying a complete recovery strategy to exit its presently deep financial and economic disaster.
As stated by Saroj Kumar Jha, the World Bank's Middle East Regional Director "Despite early warnings, Lebanon has lost precious time and numerous opportunities to adopt a path to reform its economic and financial system."
He also said “The cost of inaction is colossal, not only on the daily lives of citizens but also on the future of the Lebanese people."
Kumar Jha cautioned that if no improvements are applied, "real GDP [in Lebanon] is projected to contract by 6.5 percent in 2022," and is going to put Lebanon at "a risk of a systematic failing of state institutions and pressure on an already fragile social peace."
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