Lebanon is considering legalizing the cultivation and exportation of marijuana, according to a member of the country's caretaker cabinet.

McKinsey & Co. has created a roadmap to revitalize the struggling Lebanese economy. Among other recommendations, the global consulting firm has said Lebanon should legalize the cultivation of cannabis and begin exporting it for medicinal treatments.

Commenting on the plan, Lebanon's caretaker Economy and Trade Minister Raed Khoury told Bloomberg News that legal marijuana could become a $1 billion industry in the country.

"The quality we have is one of the best in the world," Khoury told international business publication in an article published Friday. While the minister said implementing the McKinsey plan would be difficult, he said without change, Lebanon "will have major economic turmoil."