SDG1: NO POVERTY
Poverty is a global phenomenon witnessed by all people everywhere, as there is no decent life when facing poverty, and hence it is not surprising that the first sustainable development goals call for the elimination of poverty in all its forms everywhere.
According to a number of international organizations, poverty is defined as the economic situation in which the individual lacks sufficient income to obtain the lowest levels of health care, food, clothing, education, and the necessary needs to secure a decent standard of life. The definition was expanded after the Copenhagen summit held in 2006, which stressed the importance of individual access to a minimum of a decent life, ensuring a healthy environment, and opportunities for democratic participation in decision-making in aspects of civic life.
In Lebanon, extreme poverty is not the main problem, although the quality of life index indicates that more than (30%) percent of the Lebanese are unable to secure their basic needs, and that this percentage has increased in recent months with the developments of the economic crisis and the collapse of the Lebanese pound against the US dollar.
Even prior to Lebanon’s exposure to COVID-19, exchange market pressures and an ensuing liquidity crunch were already stifling trade and corporate finance, constraining the importation of capital and final goods, and inducing disruptions all along the supply chain. In 2019, real GDP is estimated to have declined by 5.6%, and while the contraction was concentrated in Q4 2019, it was in effect since 2018. Net exports are the sole positive contributor to GDP, driven by falling imports; according to customs data, while the total value of merchandize imports declined by 3.7% in 2019, non-energy imports fell by 20%.
While uncertain in duration, COVID-19 is expected to have a substantial impact on the Lebanese economy, especially over Q1-Q2 2020, and concentrated on key sectors such as retail, restaurants, construction, real estate and banking. On the other hand, the sharp decline in global commodity prices can (i) help relieve balance of payments pressures; and (ii) mitigate the surge in inflation resulting from parallel exchange rate pass through effects. in addition to COVID-19 effects, we assume insufficient financial crisis policy responses, parallel exchange rates and continued deleveraging in the financial sector at the expense of the real economy. Real GDP growth is projected to contract by almost 11% in 2020.
The Lebanese University - Center of Profession, Innovation and Entrepreneurship (Centre MINE) announced +200 job opportunities during January 2020, and 189 CVs from the Lebanese University students were selected.
The Lebanese University - Center of Profession, Innovation and Entrepreneurship (Centre MINE) announced +100 job opportunities during February 2020, and 113 CVs from the Lebanese University students were selected.
The Lebanese University - Center of Profession, Innovation and Entrepreneurship (Centre MINE) announced +200 job opportunities during September 2020, and 249 CVs from the Lebanese University students were selected.
The Lebanese University - Center of Profession, Innovation and Entrepreneurship (Centre MINE) announced +300 job opportunities during October 2020, and 539 CVs from the Lebanese University students were selected.