Can Lebanon economy survive another blow?
Protests cost $30 million a day By Osama Habib BEIRUT, Lebanon – Is this the straw that broke the camel’s back? This question should be seriously raised as Lebanon is caught up once again in new web of political and economic uncertainty. The wide demonstrations and protests, which entered their third day on Sunday, will surely compound the pressure on the government’s poor finances and fragile economy. With projected zero-percent economic growth and a public debt of more than $41 billion, the chances of bailing Lebanon out of its enormous problems look slimmer every day, with the whole country coming to a standstill after Hizbullah and its allies decided to take to the streets to oust the government of Premier Fouad Siniora. Finance Minister Jihad Azour has warned that the economic cost of each day of protest is enormous. Some economists estimate that Lebanon will lose more than $30 million each day if the crisis does not come to a quick end. Hotels have seen businesses plummet, dealin
