Raja Habre 'Hope, Community and Resilience in Lebanon'
The New Abnormal
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The Central Bank Initiative to Subsidized Rates Created More Jobs Than Any Other Initiative
After yearsf of shouting and lobbying, the government decided to give an incentive by e subsidizing the high interest rates. So if you went to the bank and they told you, i would lend you at 15 %, let's say as a business, the central bank would give you back the equivalent of five percent. This initiative, i think, is the only one that created real jobs, meaningful jobs, in the last 30 years in leveno. But then 97 was slow. 98 was slow because the interest rates were still high. But then in the ear an i begame better. And so then in that case. I bringing things up to where we are right now. E
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