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Lebanon

Druze Leaders Willing To Implement McKinsey Report for Lebanon’s Economic Growth

There is finally good news for Lebanon. Two feuding Druze leaders in Mount Lebanon have finally agreed to cooperate with each other. This will finally bring an end to a political crisis that paralyzed the nation’s government for more than a month.

The Lebanese Cabinet will finally convene on Saturday and bring both leaders to come to a point of amicable discussion. Druze is a minority ethnic group.

The Lebanese Druze are essentially Lebanese people who adhere to the Druze faith, an ethnoreligious esoteric group that originated from the Near East. They identify themselves as Unitarians and also call themselves asal-Muwahhideen or ‘believers of one God’.

The Lebanese Druze people are believed to constitute about 5.2 percent of the total population of Lebanon and have around 1.5 million members worldwide.

The two leaders, it is reported to have met at the invitation of President Michel Aoun, who chaired the talks at the Baabda Palace.

Parliament Speaker Nabih Berri along with the Prime Minister SaadHaririalso attended the meeting.

The two leaders in the discussion are Walid Jumblatt, head of the Progressive Socialist Party, and Talal Arslan, head of the Democratic Party.

Lebanon has public debt valued at about 150 percent of gross domestic product, one of the highest levels in the world. McKinsey, one of the world’s top financial firms has come out with a detailed plan on how to revive the economy and bring in financial stability.

The meeting was a starting point to get both leaders to agree on the fact that “there can be political stability without economic and financial stability.’ Both have agreed to cooperate with the implementation of the McKinsey plan.

While talking about the implementation of the plan, Prime MinisterHariri has shared with the media, “The basic steps will include approving the 2020 budget, implementing the 2019 budget, developing a detailed plan to launch investment projects amounting to $3.3 billion, implementing the Cedar projects, fully implementing the power plan, adopting reform laws — particularly those related to public tenders and tax and customs evasion, coordinating with the committee for modernization of laws, activating the ministerial work committees, completing judicial reform steps, strengthening the work of oversight bodies, curbing waste and corruption, and reviewing useless institutions.”

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