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FINANCIAL NEWS
Lebanon estimated economic growth down to 2.5%
01 May 2011
(MENAFN) Lebanese caretaker finance minister, Raya Al-Hassan, stated that the country’s estimate for its economy’s growth went down to 2.5 percent down from the earlier estimate of around 5 percent, reported Arab News.
Al-Hassan also said that the reason for the decrease was the political power struggle harming the country’s economy.
The caretaker finance minister added that the main indicator for the struggling economy was inflows. She pointed out that inflows were 23 percent in the last two years, but started to decrease and stood at 11 percent in 2011.
It is worth noting that Lebanon’s economy started having trouble after it saw a limited capital outflow after Hezbollah brought down the unity coalition of Prime Minister Saad Al-Hariri.
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