Complex Made Simple

IMF lowers Lebanon’s economy forecasts to 2 per cent

Country placed 3rd out of 9 MENA countries in terms of return on external debt

The International Monetary Fund (IMF) trimmed its 2015 forecast for Lebanon’s economy to two per cent from 2.5 per cent in its previous report.

The IMF expects that the rate of real growth in Lebanon will rise to 2.5 per cent in 2016 and four per cent in 2018, reports UAE-based Aliqtisadi.

Lebanon’s external debt achieved a return of 0.26 per cent during September 2015, compared with 0.74 per cent in August, and a cumulative return of 2.53 per cent until September 2015, compared with 2.80 per cent up to August.

The country came in third place out of nine countries in the Middle East and North Africa region in terms of the return on the external debt.

The Association of Banks in Lebanon points out that the consolidated balance sheet of banks increased by 3.37 per cent since the beginning of the year to $181.62 billion by the end of August 2015.

($1 = AED3.67, at the time of publishing)