Lebanon legalises cannabis cultivation

Could this boost the economy?
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Lebanon legalises cannabis cultivation

This week, the Lebanese parliament declared the legalisation of cannabis cultivation. The operation had been recommended to Lebanon by advisors prior to the coronavirus pandemic in effort to help its economy overcome the colossal downfall.

While the cultivation of cannabis is now legalised in the country, it has not been legalised for recreational purposes. The plant will be grown and harvested in the country exclusively to export for the production of pharmaceutical and industrial goods.

Prior to the COVID-19 pandemic, Lebanon’s economy had already suffered a major collapse which has been progressing from 2011. Now, due to the current global coronavirus crisis, its economy is on the verge of crumbling. According to Bloomberg, in response to Lebanon’s severely indebted economy in 2018, the production and distribution of cannabis may be the Lebanese economy’s saving grace as the estimated revenue generated from the sale of cannabis annually could be approximately US $1 billion.

Photo: Kimzy Nanney for Unsplash