Author Archives: Jad Chaaban

Our small, dependent economy

Our small, dependent economy

Reading Time: 2 minutes Lebanon is a small dependent economy, built on a quasi-complete consumerist system where we import more than 80 percent of our energy, food and most consumed products and services. The country also relies on financial inflows to finance its public debt and domestic consumption, with foreign inflows per year into the Lebanese economy reaching more

Fighting the resource curse

Reading Time: 3 minutes This article is part of Executive’s special report on the oil and gas sector. Read more stories as they’re published here, or pick up October’s issue at newsstands in Lebanon.   “Ten years from now, 20 years from now, you will see: oil will bring us ruin … Oil is the Devil’s excrement.” This statement from

Rewrite Lebanon’s unfair tax laws

Reading Time: 3 minutes As part of Executive’s ‘10 Ways to Save Lebanon’ issue, we asked leading experts from a range of fields to put the case for one major policy for the country. In this article, economist Jad Chaaban makes the case for rewriting the country’s tax laws.   Lebanon’s current tax rules are both deeply unjust and

Why Lebanon needs to raise public sector wages

Reading Time: 4 minutes During the recent launch of the World Bank report on Lebanon’s economic performance, some participants argued that the proposed salary adjustment, if implemented, would have dire consequences for the Lebanese economy. They went on to state that salary changes would increase inflation due to higher taxes, raise the cost of finance to the private sector