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Lebanon says economy can withstand regional pressure
- Lebanon: Wednesday, February 20 - 2013 at 06:26
Lebanese central bank governor Riad Salameh has downplayed the country's 2% growth last year, saying that considering the regional situation, "one could not expect to have better than this," Bloomberg has reported. Salameh said the worst of the problems were behind the country, citing reduced exposure to the Syrian banking market, a strong pound and the "well-received" stimulus package unveiled recently. "The situation is now under control and we do not expect any negative surprises from the situation in Syria on the banks," he said. "They are not planning to pull out, but they have scaled down their operations and they are in a wait-and-see situation. They are aware of the commercial risks and they are respecting the sanctions," the governor said.
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