Mckinsey’s “Lebanon Economic Vision” Summarized, Evaluated and Revised

Despite several periods of economic prosperity, Lebanon is marred with highly volatile growth, persistent corruption and legislative inefficiencies. Lebanon is today the world’s third most indebted country. Public debt stands at around 150 percent of GDP and the International Monetary Fund estimates that it will reach 180 percent in five years.

On October 20, 2017, the Council of Ministers approved the launching of a study aimed at setting a National Economic Plan (NEP).

On January 20, 2018, the cabinet tasked global consulting firm McKinsey & Company with the NEP.

On July 4, 2018, McKinsey & Company presented Lebanon with a report on the ideal economic model it should follow, entitled “Lebanon Economic Vision, and ways to achieve it”.

In this context, Friedrich Ebert Stiftung (FES) contracted the consultation and research institute (CRI) to conduct an overall review and assessment of the Lebanon Economic Vision in view of providing Lebanese stakeholders with an analysis that empowers their lobbying and advocacy efforts.

In line with this objective 3 main documents were produced by CRI:

• A Summary of the main components of the Vision (Summary of Mckinsey's Lebanon Economic Vision)

• An Assessment of the Vision from a socio-democratic approach (Assessment and Recommendations of the Mckinsey Plan)

• An Identification of demands and alternative solutions to be raised by political actors and CSOs (Advocacy Platform)

The documents were presented over a roundtable discussion at FES's new premises Conference room on May 16th 2019

A summary presentation in Arabic was also produced by CRI for non-English readers (Full Arabic Version)