USD to LBP Exchange Rate

Buy 1 USD at 89,700 LBP

Sell 1 USD at 89,400 LBP

Sayrafa Rate

Rate 1 USD at 85,500 LBP

Volume 50,000,000 USD

Fuel

OCTANE 98
1,565,000.00 LBP
OCTANE 95
1,525,000.00 LBP
GAS
929,000.00 LBP
DIESEL
1,515,000.00 LBP
BRENT CRUDE OIL
83.00 USD

Gemayel meets with Economic Bodies delegation

  • Wed January 29 2025 3:10 pm

Lebanese Kataeb Party Leader MP Samy Gemayel has called for urgent reforms to revive the country's economy, emphasizing the resilience of the private sector in the face of Lebanon's ongoing financial, economic, and political challenges. Speaking during a meeting with a delegation from the Lebanese economic bodies at the Kataeb Party’s headquarters in Saifi, Gemayel underscored the opportunity Lebanon faces for historical change.

“We are at a moment of opportunity to implement the necessary reforms that will help lift Lebanon and its private sector,” Gemayel said. “The private sector is the backbone of Lebanon’s economy, creating jobs and improving the purchasing power of citizens. Reforms in this sector are a priority for the Lebanese people.

Gemayel’s remarks were part of a broader discussion on strategies to develop Lebanon’s economy and restore growth. The leader of the Kataeb Party outlined his vision to revitalize various productive sectors, including tourism, industry, and agriculture. He stressed the need for clear and actionable plans for these industries to overcome their current challenges.

Furthermore, Gemayel emphasized the importance of strengthening Lebanon’s ties with Arab countries to open new markets for Lebanese exports, which he argued is essential for boosting Lebanon’s economy. He also highlighted the Kataeb Party’s electoral platform, the “Lebanese Project,” a comprehensive vision for economic, financial, industrial, agricultural, and tourism reforms. The project was shared with the meeting's attendees, marking an essential step toward policy reform.

The Lebanese Economic Bodies delegation, led by former Minister Mohammad Choucair, also expressed support for Gemayel's call for reform. Choucair praised the Kataeb Party for its critical stance against Lebanon’s flawed financial policies.

“The Kataeb Party has played a vital role in challenging the government’s fictitious budgets and oppressive tax laws that burden the legitimate private sector,” he said, lauding the Kataeb's commitment to implementing a reformist agenda.

The meeting, which included prominent figures from various sectors, also included discussions on the key challenges facing Lebanon’s tourism, industry, agriculture, trade, and construction sectors. The Lebanese Economic Bodies laid out their own plans for reform, including proposed legislation on investment incentives, tax modernization, social security, customs, and laws governing technology and automation.

The Economic Bodies are preparing to present their proposals to President Joseph Aoun and the designated Prime Minister, aiming to secure the legislative changes necessary to ensure Lebanon’s economic revival. Choucair also stressed that the reform plan includes key actions to address pressing issues, such as tax evasion by illicit institutions, which he described as a significant impediment to Lebanon’s economic recovery.

The meeting concluded with a strong commitment to continued coordination between the Kataeb Party and the economic bodies, with both sides agreeing to work together on the proposed reforms to ensure that Lebanon’s economic policies align with the needs and priorities of the Lebanese people.

The hosted delegation included Former Minister and Head of the Lebanese Economic Bodies Mohammad Choucair, Secretary-General of the Economic Bodies and President of the Beirut Traders Association Nicolas Chammas, Treasurer of the Economic Bodies and Vice President of the Beirut and Mount Lebanon Chamber of Commerce, Industry, and Agriculture Nabih Fahed, Vice President of the Lebanese Industrialists Association Ziad Bakdash, President of the Federation of Tourism Syndicates Pierre Ashkar, President of the Contractors and Public Works Syndicate Maroun Helou, President of the Oil Importers Association Maroun Chammas, President of the Lebanese Franchise Association Yihya Qasaa, President of the Lebanese Businessmen Association Nicolas Bou Khater, Vice President of the Beirut and Mount Lebanon Chamber of Commerce, Industry, and Agriculture Gaby Tamer, President of the Lebanese-Gulf Economic Relations Development Authority Elie Rizk, Secretary of the Economic Bodies Alphonse Dib, Tax Consultant to the Economic Bodies Hisham Al-Makmel.

In addition to the Party’s leader, members present from the Kataeb included MPs Salim Sayegh, Elias Hankach, and Nadim Gemayel, members of the party's Political Bureau, former Minister Alain Hakim and Naji Sfeir, Head of the Economic and Social Affairs Department Jean Tawile, Head of the Legislation and Public Policies Department Lara Saadeh, Head of the Emigrants Department Michel Hrawi, Head of the Labor Council Ziad Kaadi, Head of the Public Relations Department Maurice Gemayel, as well as George Jomhoure, and Khalil Dagher.

 

News