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World Bank reduces Lebanon's growth prospects
- Lebanon: Sunday, June 28 - 2009 at 11:35
The World Bank has revised downward its economic growth forecast for Lebanon to 2.5% in 2009, from an earlier forecast of 4% at the end of last year. It said that Lebanon's growth prospects - as well as those of neighbouring economies - will depend on how well GCC economies perform, as well as to a lesser extent those of the international donor community. The GCC has been the main source of remittances, foreign direct investment and tourism to the Levant, while the international community has provided foreign aid, the World Bank said. Lebanon's current account deficit is equivalent to 14.7% of GDP in 2008.
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StaffSunday, June 28 - 2009 at 11:35 UAE local time (GMT+4)
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