HELP US HELP A MOTHER OF TWO SURVIVE BREAST CANCER!
Linda is a 43-year-old woman. Her parents were not legally married, so she is not entitled to have an ID or a personal civil registry card...
read more

Bassma is launching the Easter-Ramadan Foodathon Campaign 2024!


Offer a Food pack, and/or a Hygiene pack, and/or a Bread pack.

 

During these hard times we are going through, solidarity is what matters the most.


Starting $30, you can make a difference in families' lives and draw smiles on their faces.


We count on your generous and precious support!

SOCIAL NEWS back
Thank you Rotary Club Beirut Cedars!
23. Jan 2021
Bassma Communication on Engagement 2020
25. Nov 2020
When President Macron meets few NGOs in ...
02. Sep 2020
UNDP Latest Poverty Assessment Report: 3...
17. Sep 2018
الكل في جريدة لنصنع وطنا
09. Feb 2018
The world's food import bill is rising d...
09. Nov 2017
Bank Audi warns over Lebanon’s rapidly increasing public debt
21. May 2013

source: www.dailystar.com.lb

Bank Audi sounded the alarm Monday over a substantial rise in Lebanon’s public debt and budget deficit at the beginning of the year, warning against policies that could further weaken its financial stability.

The bank, which made the comments in its economic report on the first quarter of 2013, said the debt-to-GDP ratio had soared since 2011.

“After Lebanon witnessed an improvement in its debt and deficit ratios in the second half of the past decade, such ratios are back on the rise, with the debt ratio approximating the threshold of 140 percent and the deficit ratio approaching the 10 percent level,” Audi said in its report.

“As such, it is important to note that within the context of the current situation in Lebanon and the region, and as all eyes are centered on public finance issues around the world, Lebanese authorities should avoid costly policies that add pressures on the state and weaken the ability of the domestic economy to confront domestic and external shocks and contain their spillover effects with no disorderly market drifts at large.”

It said the financial stability Lebanon has witnessed despite difficult circumstances over the past several years did not mean the economy was insulated against future risks.

Lebanon’s debt-to-GDP ratio fell to 135 percent more than a year ago. But the failure to increase revenues or trim spending over the last year has contributed to a surge in the public debt, which is now estimated at more than $55 billion.

The sharp fall in the number of tourists visiting the country over the last two years has also contributed to driving up the debt-to-GDP ratio.

Moody’s ratings agency recently changed the outlook of Lebanon’s bonds and bank deposits from stable to negative due to the economic and political deterioration in the country.

Bank Audi stressed that the country’s GDP could be stuck at an anemic growth rate this year if no major political and economic breakthrough took place soon.

“The Lebanese economy started the year 2013 with an activity similar to the one observed since the onset of the Arab Spring which had undoubtedly adverse spillover effects on Lebanon in the realms of investment, tourism and foreign trade. But within the context of some mitigating factors as well, the Lebanese economy didn’t fall into a recessionary trap, with economic growth slowing down but remaining positive overall,” it said.

It explained that the 2 percent real growth forecast by the IMF for Lebanon in 2013, following a revised estimate of 1.5 percent for 2012, was likely to materialize in the event of a political standstill this year and if the tourism sector saw no improvement during the summer months.

“[Also] if the tourism sector witnesses a significant increase in the number of tourists relative to the previous year’s low base, the economy can achieve a real growth well exceeding 2 percent,” the report said.

Audi also cited several other factors that could allow Lebanon to exceed the IMF growth forcast, including a rise in consumption due to the wage increase, which was only partially in effect for 2013.

image: (The Daily Star/Hasan Shaaban)

TERMS & AGREEMENTS
GOT A BRIGHT IDEA? SHARE IT!
Full Name
E-mail
Country
P.O.Box
City
Telephone number
Do you want to receive BASSMA�s Newsletter?
My bright idea
Fill all required fields
submit
cancel
Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi.

 

Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi.

Enter your monthly salary
$
Enter your weekly working hours
hrs
0
0
0
.
0
0
ONE HOUR OF YOUR SALARY
Airtal.
Amlor 5mg.
Amolgal.
Androcur 10.
Augmentin.
Austin.
Bacazyme inj.
Bisoprolol Norman 5mg.
Cal C vita.
Capoten 25.
Cinarin 75 mg.
Cinemet.
Claritine.
Clenil forte.
Coltrate 600.
Coplixol.
Copoclen 25mg.
Depakine crono 500 mg.
Euro fer.
Lipentil.
Marvil 70.
Nazonex
Nexium 40mg.
Prozac 20mg.
Pulmozine
Rabezol 20mg
Risperdal
Seritide 250mg.
Seroxat.
Singular.
Sipriva
Solotik 100mg
Stilnox 10mg
Tavanic 500mg
Toby
Topamax 100 mg.
Venofer 100mg inj.

Get Adobe Flash player

This page requires Flash Player version 10.0.0 or higher.