Lebanon: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lebanon
January 24, 2017
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This 2016 Article IV Consultation highlights that Lebanon’s economic growth remains subdued. Following a sharp drop in 2011, growth edged upward briefly to 2–3 percent, but has now slowed again. The IMF staff estimates that GDP increased by 1 percent in 2015, and a similar growth rate in 2016 is projected. Lebanon’s traditional growth drivers—tourism, real estate, and construction—have received a significant blow and a strong rebound is unlikely based on current trends. In the absence of a turnaround in confidence, or a resolution of the Syrian conflict, growth is unlikely to return to potential (4 percent) soon.
Subject: Banking, Foreign exchange, National accounts, Oil prices, Prices, Public debt, Revenue administration
Keywords: authorities' interest, bank secrecy, borrowing cost, CR, Europe, foreign exchange inflow, Global, government, IMF staff estimate, ISCR, Lebanese pound, Lebanon, Lebanon's response, Middle East, Middle East and Central Asia, Oil prices, outlook from negative, policymaking framework, refugee, refugee inflow, support refugee, West Africa
Pages:
70
Volume:
2017
DOI:
Issue:
019
Series:
Country Report No. 2017/019
Stock No:
1LBNEA2017001
ISBN:
9781475570618
ISSN:
1934-7685
