Lebanese economy to grow 2.2 percent in 2015

26 Feb 2015

(MENAFN) Lebanon anticipates its economy to grow 2.5 percent in 2015, according to finance minister, after reporting a Eurobond of USD2.2 billion, the largest issue in the country’s history, Al-Arabiya reported.

Lebanon’s economy has been hit by Syria’s war, which started in 2011 and has spilled over into the small Mediterranean country. Political stalemate has paralyzed government and parliament has been unable to elect a president.

The minister showed that the country still need an additional USD2.2 billion to cover financial needs for 2015 but that so far he only had the required permission from parliament for USD300 million of further bond issues.

He also expected 2015 public debt to grow to USD68.7 billion after the latest Eurobond issuance, an increase of USD2.2 billion compared to 2014. He also expected 2015 debt to GDP to decline to between 129 to 133 percent, compared to 135 percent in 2014.

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