The Head of the Beirut Traders Association and General Secretary of the Lebanese Economic Organizations, Nicolas Chammas, has reported the initiation of an economic recovery in the first nine months of this year. The influx of tourists and expatriates has contributed to halting the previous downward trend.

Despite the challenges, Lebanon is still resilient, with the daily business volume in the commercial sector reaching $250 million compared to $150 million last year, and projections for this year nearing $100 million.

"The state needs to rationalize spending, and there must be a balance between state revenues and expenditures. A sudden increase in revenues cannot be borne by the economy," he said.

Addressing concerns about high energy costs for industrialists and the significant expenses associated with holiday decorations, Chammas underscored the impact of the absence of a president on the economy. He expressed the view that the government is merely managing affairs, and issues in parliament, along with the closure of real estate and Vehicle Registration Center departments, are hindering economic recovery efforts.

 "If the war extends from the south to the Lebanese interior, the economic cost will be high, and it could be the end of Lebanon. Fear may drive citizens to buy and hoard US dollars," he noted.

Regarding the Syrian refugee issue, Chammas pointed out that sustaining two peoples on one economy is impractical. He emphasized the importance of recognizing Lebanon's "dollarized" system, valuing the liberal system, and considering the swift adoption of capital controls.