Complex Made Simple

Lebanon managing crisis well, says HSBC

HSBC has said Lebanon is still managing to hold up fairly well despite some isolated incidents witnessed in the second quarter of the year and the deepening instability in neighbouring countries, The Daily Star has reported. Government revenues rose during the quarter and, although much of this growth came from one-off payments into the 'other revenues' category, tax revenues were also up by a nearly 13% year-on-year in the first quarter of 2012, the lender said. Although spending on imports was up by nearly 23% year-on-year over the first four months of 2012, however, exports also reported a double-digit growth, despite the troubled global demand climate, the report said.