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Now for the good news on Lebanon economic performance
12-6-2017
Unlike previous pessimist data, (: http://bit.ly/2gFfLgd), newly released figures pointed to improvements in major economic indicators, including growth, balance of payments, foreign investment flows and expatriate remittances. The World Bank “Global Economic Prospects” report has anticipated an economic growth by 2.5% in 2017 and by 2.6% in 2018 and 2019 respectively, while the Lebanon weekly monitor released by Bank Audi Group, for the week of May 22- May 28, 2017, has shown that the financial inflows to the country amounted USD 4.8 billion during the first quarter of 2017, compared to USD 3.3 billion over the same period of last year, leading to a balance of payments surplus of USD 555 million during the first quarter of 2017, against a deficit of USD 644 million over the same period of last year. Meanwhile, the UN Conference on Trade and Development (UNCTAD) figures published in the Byblos Bank Group weekly monitor, indicated that direct foreign investments into Lebanon have reached USD 2.56 billion in 2016, versus USD 2.35 billion in 2015, which has placed Lebanon as the fourth largest recipient of foreign investments in 2016 among 19 Arab states and 13 countries in West Asia. Also, Banque du Liban figures have shown an increase in expatriates transfers by 1.8% to reach USD 7.62 billion in 2016. On the other hand, Bank Byblos and Credit Libanais bulletins noted an increase of 2.7%i n overall public debt which reached USD 76.9 billion by the end of April 2017, compared to the end of 2016, and 7.3% from the end of April 2016. ( http://bit.ly/2gFfLgd)
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