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Lebanon’s blessing is its creative and flexible private sector, while its curse is without a doubt its wasteful and failed public sector. That, in summary, is Lebanon’s economic situation today, perhaps much like that of many Third World economies.
In truth, that description surprises no one. One feature of the global economy is that the private sector is the engine of growth and the creator of wealth rather than the public sector, while acknowledging the latter’s importance in creating social safety nets, fighting poverty, ensuring equal opportunities and protecting the environment.
