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FINANCIAL NEWS
Syria’s unrest dents Lebanon’s exports
02 Aug 2012
(MENAFN) Lebanese exports suffered a painful hit due to the ongoing political turmoil in neighboring Syria, with the country’s industries losing more than USD150 million, the state-run National News Agency reported.
40 percent of Lebanon’s total exports go through its borders with Syria, and in case it was closed, an economic catastrophe will take place, Khaled Farshoukh, the head of the Export Development Council, was quoted as saying.
Farshoukh urged the government to take necessary action to reroute the country’s exports, to evade denting the country’s industries.
Lebanon saw a steep drop in exports in the last few months, as the number of trucks crossing the borders declined to 50 a day from 300.
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