With the world’s third highest debt-to-GDP ratio and annual growth averaging just 1.7% since 2011, the Lebanese economy needs crucial assistance. Saad Hariri’s government aims to cut this year’s deficit and upcoming donor conferences may help. But can efforts overcome the structural issues impairing prosperity?

Senior officials including Prime Minister Saad Hariri and Foreign Minister Gibran Bassil traveled to Rome this week for a 15 March international donor conference...