Lebanon could enter recession in Q3
- Lebanon: Tuesday, September 18 - 2012 at 12:50
US-based Institute of International Finance (IIF) has said Lebanon's 2012 GDP growth is unlikely to exceed 1.2% by the end of 2012, and the country could enter recession in the third quarter, The Daily Star has reported. The IIF blamed deterioration in security conditions and spill-over from the Syrian conflict for the rapid decline in economic activity from 7% growth achieved in 2010. The report, however, predicted real GDP growth to rebound to 3% for the third quarter if significant improvements in the domestic security situation and the rule of law take place, including the beginning of structural reforms.
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