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Lebanon: Delay In Lebanon Government Formation Harming Economy, Experts Sa...

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Description

By Reuters

Description:
BEIRUT, LEBANON (RECENT) (REUTERS) CARS DRIVING THROUGH CENTRAL BEIRUT VARIOUS OF WORKERS AT BUILDING SITE NEAR CENTRAL DISTRICT (3 SHOTS) TRAFFIC IN BEIRUT STREET VARIOUS OF EXTERIORS OF BANKS, CREDIT LIBANAIS AND BLOM BANK REPORTER SPEAKING WITH ECONOMIC ANALYST CLOSE OF BYBLOS BANK FLAG (SOUNDBITE) (Arabic) HEAD OF ECONOMIC RESEARCH AND ANALYSIS DEPARTMENT AT BYBLOS BANK NASSIB GHOBRIL SAYING: "Even if the government was formed tomorrow, there is a decline in the confidence of investors. Because every time there is a rotation of power there is a political crisis, and for investors, the most important thing is stability in terms of politics and security. Secondly, in the long run, this will also affect consumer confidence and consumer confidence is what moves the economy and encourages consumption. So maybe, at the time being, maybe there are no tangible effects but in the medium and long-term there will be consequences without any doubt." GHOBRIL SPEAKING (SOUNDBITE) (Arabic) HEAD OF ECONOMIC RESEARCH AND ANALYSIS DEPARTMENT AT BYBLOS BANK NASSIB GHOBRIL SAYING: "The crisis in rotation of authority means that even if the government was formed as they are saying, a nationally inclusive government, there are important issues and key decisions to be made, decisions that relate to reform and the privatisation of the telecom sector and the restructuring of the electricity and social security sectors and improving the environment of investments. All these decisions should be taken unanimously and need a common political will. So if the government needs three months to be formed, how are these decisions going to be made?"

Additional Information

Item ID:
109665368
Usage:
Editorial
Duration:
00:02:27
Looping:
No
Alpha Matte:
No
Advanced Licensing Options
Alpha Channel:
No
Model Released:
No
Property Released:
No
Location:
Lebanon
Average Bitrate:
8.21 Mbps
Bit Depth:
24
Audio Channels:
2
Audio Format:
mp4a
Audio Sample Rate:
48000