Pressure is building on Lebanon’s economy: gross domestic product (GDP) growth is sluggish and estimated to hit between 1% to 1.5% over 2017 and 2018, according to the International Monetary Fund (IMF).
Public debt is high, at 150% of GDP, and is likely to deteriorate as fiscal deficits in the range of 7% to 10% are anticipated over the short term. The country’s current account deficit is also swollen, at close to 20%, with little sign it is set to improve. Inflation, meanwhile, reached 5% over the course of 2017 as higher oil prices and the rising cost of imports pushed prices higher.