What economic phenomenon, characterized by substantial remittances sent by the worldwide Lebanese diaspora, constitutes an estimated 30 to 40 percent of national GDP?
Answer and explanation
Correct answer: A. Expatriate workers' remittances and financial transfers
- Step 1: The Lebanese diaspora across North America, Latin America, West Africa, and the Gulf sends several billion dollars annually.
- Step 2: These remittances form a primary safety net for domestic households and a major source of foreign currency.
Answer
Expatriate workers' remittances and financial transfers.
Why not the others: 'Foreign direct investment in manufacturing plants' has historically remained low; 'Multilateral concessional loans' are state project loans; 'Sovereign wealth fund dividends' do not exist in Lebanon.
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