Remittance Drop Impacts Economy

The article discusses the importance of expatriates' remittances in supporting the Lebanese economy. They constitute approximately 30-35% of the gross domestic product and provide the dollar liquidity needed to finance household consumption and alleviate financial imbalances. Lebanon heavily relies on financial inflows from Gulf Cooperation Council countries, North America, and Europe. A decline in these inflows has serious effects on consumption, liquidity, the balance of payments, exchange rate stability, and the reserves of the Central Bank of Lebanon. The report emphasizes that excessive dependence on these remittances makes Lebanon economically vulnerable and highlights the need to build a productive and sustainable economy that reduces reliance on external inflows, thereby contributing to economic growth and job creation.

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