Lebanon: Private Schools in Tough Spot Amid Worsening Economic Crisis

Lebanon: Private Schools in Tough Spot Amid Worsening Economic Crisis
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Lebanon: Private Schools in Tough Spot Amid Worsening Economic Crisis

Lebanon: Private Schools in Tough Spot Amid Worsening Economic Crisis

About 750,000 students and 60,000 teachers in private schools face an unknown fate amid a worsening economic crisis, which has been further exacerbated by forced disruption measures to prevent the spread of the coronavirus.

While parents complain that private schools expect them to pay the tuition in full at the risk of not registering their children for the next academic year, the administrations of most schools stressed their inability to maintain work unless the state takes initiatives in this regard.

In remarks to Asharq Al-Awsat, Education Minister Tarek al-Majzoub said: “The economic situation in Lebanon coincided with the coronavirus crisis, which has greatly affected the educational sector.”

He emphasized that parents were facing a dire financial situation, while teachers and administrators should not be left to bear additional burdens.

“It is our duty to work to secure their salaries. Therefore, we held several meetings with all educational partners in order to reach solutions, and a joint statement was signed to ensure the sustainability of education,” he revealed.

He continued: “We are working on several tracks to develop public education in Lebanon because we believe in the public sector and value its efficiency. The doors of public schools are open to everyone. We are working on an educational emergency plan that will see the light soon.”

On the other hand, Secretary-General of Catholic Schools, Father Boutros Azar, told Asharq Al-Awsat that the economic crisis was not something new.

“We have been warning about it since 2012… and we have demanded fair salaries. Today, some parents are unable to pay the tuition fees, while others, who are more privileged, abstain from paying. We have reached a dead end and we cannot continue,” Azar warned, saying that four Catholic schools have closed so far.



OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

The OPEC logo. Reuters
The OPEC logo. Reuters
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OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

The OPEC logo. Reuters
The OPEC logo. Reuters

OPEC cut its forecast for global oil demand growth this year and next on Tuesday, highlighting weakness in China, India and other regions, marking the producer group's fourth consecutive downward revision in the 2024 outlook.

The weaker outlook highlights the challenge facing OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia, which earlier this month postponed a plan to start raising output in December against a backdrop of falling prices.

In a monthly report on Tuesday, OPEC said world oil demand would rise by 1.82 million barrels per day in 2024, down from growth of 1.93 million bpd forecast last month. Until August, OPEC had kept the outlook unchanged since its first forecast in July 2023.

In the report, OPEC also cut its 2025 global demand growth estimate to 1.54 million bpd from 1.64 million bpd, Reuters.

China accounted for the bulk of the 2024 downgrade. OPEC trimmed its Chinese growth forecast to 450,000 bpd from 580,000 bpd and said diesel use in September fell year-on-year for a seventh consecutive month.

"Diesel has been under pressure from a slowdown in construction amid weak manufacturing activity, combined with the ongoing deployment of LNG-fuelled trucks," OPEC said with reference to China.

Oil pared gains after the report was issued, with Brent crude trading below $73 a barrel.

Forecasts on the strength of demand growth in 2024 vary widely, partly due to differences over demand from China and the pace of the world's switch to cleaner fuels.

OPEC is still at the top of industry estimates and has a long way to go to match the International Energy Agency's far lower view.

The IEA, which represents industrialised countries, sees demand growth of 860,000 bpd in 2024. The agency is scheduled to update its figures on Thursday.

- OUTPUT RISES

OPEC+ has implemented a series of output cuts since late 2022 to support prices, most of which are in place until the end of 2025.

The group was to start unwinding the most recent layer of cuts of 2.2 million bpd from December but said on Nov. 3 it will delay the plan for a month, as weak demand and rising supply outside the group maintain downward pressure on the market.

OPEC's output is also rising, the report showed, with Libyan production rebounding after being cut by unrest. OPEC+ pumped 40.34 million bpd in October, up 215,000 bpd from September. Iraq cut output to 4.07 million bpd, closer to its 4 million bpd quota.

As well as Iraq, OPEC has named Russia and Kazakhstan as among the OPEC+ countries which pumped above quotas.

Russia's output edged up in October by 9,000 bpd to about 9.01 million bpd, OPEC said, slightly above its quota.