27 Nov 2011
(MENAFN) Lebanon’s Finance Minister, Mohammed Safadi, said that by the end of the current year, the country’s public debt would be forecasted to grow between USD58 billion and USD59 billion, from USD52.6 billion at the end of 2011’s first half, reported Arab News.
Safadi added that as a result of reconstruction cost from the civil war that took place between 1975 and 1990, the country’s debt-to-gross domestic product (GDP) ratio in 2012 budget would be one of the world’s highest levels at 132 percent, from 135 percent in 2011.
On the other hand, the International Monetary Fund (IMF) said that economic activity in Lebanon was picking up and it might reach between 3 percent and 4 percent the coming year.
It is worth noting that in spite of the slow economic growth of around 2 percent in 2011, the Lebanese government will boost budget spending by 15 percent during next year, and at the same time it plans to keep debt under control through raising value-added tax and other revenue-raising measures.
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more