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Lebanon: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lebanon
Author:
International Monetary Fund. Middle East and Central Asia Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2017: Issue 019
Language:
English
Publication Date:
24 Jan 2017
DOI:
https://doi.org/10.5089/9781475570618.002
ISBN:
9781475570618
ISSN:
1934-7685
Pages:
70
Keywords:
ISCR; CR; Lebanon; government; Lebanese pound; refugee; support refugee; refugee inflow; policymaking framework; borrowing cost; outlook from negative; foreign exchange inflow; bank secrecy; IMF staff estimate; authorities' interest; Lebanon's response; Oil prices; Global; Middle East and Central Asia; Middle East; West Africa; Europe
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund