What is the economic condition of Lebanon? How does it affect uneployment and education?

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lprono | Middle School Teacher | (Level 1) Educator

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A protracted civil war between 1975 and 1990 and then the conflict with Israel in 2006 have caused considerable damages to the country's industries and infrastructure. Political instability and the migration of skilled workers to other countries also impacted negatively on economic production as the majority of Lebanese emigrants are well-educated. While the beginning of the 21st century witnessed a considerable improvement in economic growth (from zero in 2000 to 5% in 2004), the assassination of prime minister Rafiq Al Hariri and the events of the Lebanese-Israeli conflict threw the country once again in a period of instability and stunted economic growth, although sectors such as banking and capital markets were notable exceptions. Another problem of Lebanese economy is the huge deficit that has piled up over the years. Structural measures are urgently needed to avoid that the country gets caught in an unsustainable condition. These complex economic conditions have led to rising unemployment. While the education system is generally considered of a high-standard, the job market has difficulties in giving opportunities to those with a better and specialized education.

 

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