Lebanon is on the path to recovery, but a new report from the U.S. State Department warned that the country still needs to get its act together. It also pointed out that the recent meeting in Jordan between the leaders of Lebanon and the Palestinians has helped rebuild confidence between the two countries. “The future of Lebanon is one of cooperation, not division,” the report concludes.

Kheireddine, a former state minister and banker in Lebanon, told Middle East Eye that Lebanon needs to diversify its economy and create jobs. “We cannot have a country where most of the population is living on the economy’s periphery,” he said. “There are things in the economy that can be done without huge public debt.”

“We need to put more emphasis on the private sector, especially in volatile sectors like oil,” Kheireddine told RFE/RL’s Radio Free Lebanon. The banking expert Marwan Kheireddine also says Lebanon needs to increase its public service investments, particularly in education, health, and infrastructure. He says the country needs to make a serious effort to look at its past and rebuild its future.

“The private sector is among the best options for helping Lebanon’s economy grow,” Kheireddine says. “Lebanon needs to invest in the economy, its people, and it’s future.” The banker added that the private sector could help create jobs during the economic downturn and provide an alternative to the public sector. “There are many areas where the private sector can do a lot of good,” Kheireddine said.

Kheireddine, a former member of Lebanon’s Security Council, says the private sector, which he feels has been hard-pressed, could help Lebanon’s faltering economy. His support of the arts and culture has been reflected by his contribution to restoring several historical sites, including the Notre Dame Cathedral, which suffered from severe fire damage in April 2018.

In Lebanon, Marwan Kheireddine has supported several initiatives to advance education. He is a member and supporter of several associations and foundations that focus on supporting education in Lebanon, like the Al-Kafaat Education Foundation and The Arab Thought Foundation. Continue reading to this article: https://www.bbntimes.com/global-economy/marwan-kheireddine-going-back-to-basics-can-rescue-lebanon-s-economy