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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Lebanon: Plan an oil and gas sovereign wealth fund

Posted on 06 March 2014

In the coming years, Lebanon could begin to reap the benefits of its offshore oil and gas reserves. These resources could be worth tens of billions of dollars in a country where annual gross domestic product is little more than $40 billion.
This new source of wealth has the potential to completely transform the country’s economy and society. But the dangers are also clear; almost every society that discovers resources ends up less competitive in other key sectors of the economy — the so-called ‘resource curse.’ Whether Lebanon can avoid this or not depends on how it manages sustainable development………………………………………..Full Article: Source


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