Remittances and ‘financial engineering’ have held off a long-predicted economic meltdown, but low growth and burgeoning public debt are increasingly alarming authorities and analysts alike. Can the country continue to trudge on, or is 2019 the year economic malaise transitions to full crisis mode?

Wracked by political deadlock and a refugee crisis from neighboring Syria, Lebanon’s economy has sputtered along for the better part of the last decade. GDP growth has averaged...