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FinancialNews
05-02-20
Lebanon: debts to foreign suppliers hit USD5 billion
(MENAFN) The debts the Lebanese merchants to foreign suppliers have reached USD5 billion, according to the head of the Beirut Traders Association.
As said by Nicolas Chammas, "traders are incapable of transferring any amounts of money to their suppliers, which has affected a big number of businesses".
Chammas said that, a solution should be found to the issue as the trade sector is between the main sectors in Lebanon and provides many job opportunities for the young people.
He added that, "the trade sector also contributes most to the Lebanese government's treasury by paying huge amounts of taxes."
MENAFN0502202000450000ID1099654899
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