Mr. Nicolas Boukather joined economic journalist Mrs. Lea Fayad on the latest episode of “5 عالخمسة”
Mr. Nicolas Boukather joined economic journalist Mrs. Lea Fayad on the latest episode of “5 عالخمسة”
January 24, 2025
Mr. Nicolas Boukather, President of RDCL, joined economic journalist Mrs. Lea Fayad on the latest episode of “5 عالخمسة” to discuss Lebanon’s economic recovery and reforms.
After President Joseph Aoun’s Inauguration Speech and the appointment of PM Salam to form a government, the parliament is called to align with the aspirations of the President, the PM elect, the Lebanese people and the private sector to rebuild the new Lebanon we aspire for.
The Legal Private Sector: A Pillar of Social Stability
The legal private sector has proven to be the backbone of Lebanon’s economy and a key factor in maintaining social stability, alongside the legal armed forces and the diaspora. It is imperative to strengthen and support this legal private sector by aligning to their aspirations.
RDCL has developed an aspirational plan addressing key economic sectors, including energy, tourism, infrastructure, outsourcing, agriculture, and industry along others in cooperation with the economic organizations.
Economic Priorities
To make Lebanon attractive again for investors and tourists, the following priorities are essential:
- Achieving political, security, and economic stability.
- Restarting the economy and ensuring access to finance.
- Restructuring the state, the pension issue and the financial sector.
- Attracting foreign investors and reducing the informal economy.
- Prioritizing partnership between the public and the legal private sector.
A New Economic Model
Lebanon must adopt a modern economic model, inspired by successful examples like Dubai and Singapore. Such a model should focus on:
- Targeting public expenditure-to-GDP ratios at 12–16%.
- SOEs delivering services to be managed by the private sector.
- Reducing the size of public administration, implementing e-governance, and generating private-sector jobs.
Foreign Investments Outlook
Diaspora and foreign investors have responded positively to recent developments and have shown interest in exploring opportunities. However, they are awaiting the formation of a credible government and the implementation of meaningful reforms before committing to investments.
RDCL’s Contribution
RDCL’s A.S.P.I.R.E vision serves as a comprehensive roadmap for recovery, offering actionable strategies to rebuild Lebanon’s economy and vital sectors.