Lebanon's economy to grow at 1.8 per cent - Economist Intelligence Unit
In its latest country report on Lebanon the Economist Intelligence Unit forecast economic growth in 2013 at 1.8 percent.
The EIU predicted weak growth for Lebanon as it assumed that security issues and political differences would hinder the decision-making process. In addition, regional tensions will continue to negatively affect the economy.
However, growth will be more robust from 2014 onward.
As Lebanon’s economy is service oriented, it is highly sensitive to political events and dependent on regional performance, due to the fact that Arab states are the main consumers of Lebanon services, according to the EIU.
From 2014 onward, growth is forecast to pick up substantially, averaging 4.4 percent in the period until the year 2017, based on the assumption that the situation in neighboring countries stabilizes.
Growth will be driven by high private and government consumption, as well as robust growth in services export volumes.
- Malnourished economy: global hunger leading to $2 trillion loss in world GDP
- Going green: UAE looks to save Dh6.98b a year by 2030 with renewable energy
- Diversify and dump the slump in the GCC
- Supervising the stoners: Egyptian tobacco traders call for the legalization of cannabis
- Frozen: Arab Spring economies barely trading with one another
- Economist Intelligence Unit survey reveals increased public sector demand for Service Oriented Architecture
- IMF expects Jordan's inflation to hit almost six per cent
- Non-oil growth in the GCC forecasted to grow 5.1% in the next ten years
- Foreign direct investments in Lebanon to grow 20 per cent and reach USD 4.32 billion in 2009