Lebanon To Cut Electricity Subsidy
08 Feb, 2019
Geopolitical Risk
Lebanon’s Ailing Economy: Will The Music Stop in 2019?
21 Dec 2018
Remittances and ‘financial engineering’ have held off a long-predicted economic meltdown, but low growth and burgeoning public debt are increasingly alarming authorities and analysts alike. Can the country continue to trudge on, or is 2019 the year economic malaise transitions to full crisis mode?
Wracked by political deadlock and a refugee crisis from neighboring Syria, Lebanon’s economy has sputtered along for the better part of the last decade. GDP growth has averaged a paltry 1.7% since 2011 as the country has racked up a series of bumper budget deficits. Despite slogging onward, the country’s economic outlook is looking more and more precarious. Ratings agencies and financial institutions are increasingly stressing that if Lebanon does not take immediate action, a financial crisis is a matter of ‘when’ rather than ‘if’.
Moody’s delivered the most recent forewarning, downgrading Lebanon’s outlook on 13 December from...
Lebanon Revenue Inflows: Syria War Halted Boom In FDI And Tourism ($Bn)