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	%

Geopolitical Risk

28 Feb, 2020

Featured

Lebanon Crisis Deepens Ahead Of Eurobond Payment

Lebanon’s crisis goes from bad to worse with a double ratings downgrade on the eve of a crucial $2.5bn bond payment. Its politicians prefer to dream of gas riches.

Lebanon Offshore Blocks

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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

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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