East Mediterranean
Lebanon
Lebanon’s corrupt and inefficient government has long hindered development. The new government is talking a good game – particularly on powergen – but real reforms are needed to right the ship.
State of Play
Lebanon is dreaming of gas riches with a Total-led consortium set to drill in 2019. However the country faces more pressing concerns. Donors contributed $12bn at April’s Cedre conference in Paris, in hope to benefit Lebanon's creaky infrastructure and troubled economy. But the government does have to first overcome widespread corruption.
2019 In Numbers
Peak Load
2.1
GW
GDP
56.7
$bn
Growth
1
%GDP
Debt
85.4
$bn
Debt to GDP
149
%
| Peak Load | 2.1 | GW |
| GDP | 56.7 | $bn |
| Growth | 1 | %GDP |
| Debt | 85.4 | $bn |
| Debt to GDP | 149 | % |
1 May, 2020
Featured
Lebanon Gas Ambitions In Limbo As Virgin Well Falls Flat
Total’s Byblos-1 well has come up dry, Lebanon’s energy ministry confirmed this week. The French major is scheduled to drill another well later this year. New block awards are also planned. But deep IOC cuts will hinder development on both fronts.
Lebanon Offshore Blocks
NEWS IN BRIEF
Lebanon To Halt Debt Repayments
27 Mar, 2020
Lebanon Defaults On Debt
13 Mar, 2020
Moody’s Downgrades Lebanon
8 Nov, 2019
Lebanon Currency Crisis
27 Sep, 2019
Lebanon Awards Drillship Contract
30 Aug, 2019
Lebanon Turning Fiscal Corner?
26 Jul, 2019
Lebanon: New Government, Negative Outlook?
8 Mar, 2019
Lebanon To Cut Electricity Subsidy
8 Feb, 2019
SELECTED DATA
1: Lebanon GDP Growth Has Been Barely Positive In Recent Years Whilst Debt Has Soared
2: Lebanon Budget Balance ($Bn): Spending Was A Whopping 54% Higher Than Revenue For 2018 With The Key Outlays On Government Salaries And Interest Payments
3: Lebanon's Current Account Deficit ($Bn) Has Ballooned. Inflows From Remittances, Tourism And FDI Have Flatlined Whilst Spending On Imports Has Continued To Grow
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