BEIRUT, May 5 (Xinhua) -- The President of the American University of Beirut (AUB) Fadlo Khuri announced on Tuesday that the university is facing its greatest crisis since its foundation in 1866 and is forced to cut costs in the coming year.
"This is the result of a confluence of calamities, starting with the collapse of the Lebanese economy, now compounded by the COVID-19 pandemic and associated global recession," Khuri was quoted as saying in a statement published on AUB's website.
Khuri said that the university's revenues are expected to drop by 60 percent for the 2020-2021 period to 249 million U.S. dollars from 609 million U.S. dollars in 2019-2020.
Khuri noted that the university, which is among the top 200 universities in the world, continues to look everywhere for savings, including a reduction in capital expenditure, travel, and in many other areas. Enditem
