The Lebanese Bank Association estimates Lebanon’s economic growth rate for the fiscal year ending in 2001 at one percent compared with zero percent in fiscal year 2000, reported Al-Hayat. The association added that the growth is a sign that the economic situation in Lebanon is improving.
The association further anticipates an increase in Lebanon’s public debt. The country’s public debt was value at $28.5 billion at the end of 2001, which is equivalent to 175 percent of the GDP, compared with $25 billion in 2000, reported Al-Hayat. The association added that the public debt and the treasury deficit, which stands at 24.8 percent of the GDP, are the two main obstacles facing monetary and economic policies in Lebanon. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
