“Resilient” is an oft-used word when describing Lebanon and its economy, and it is hard to come up with a better description. Despite political stasis and the continual threat of unrest, in the absence of desperately needed financial reform, and in conditions that ought to produce a failed state, the country grinds on.
Gross domestic product (GDP) grew 1% in 2015 to $51.2bn, according to the International Monetary Fund; a reasonable figure, but a far cry from the 8% to 10% growth in the years before Syria entered crisis mode. Spillover from the Syrian civil war is a drag on the Lebanese economy. Others are domestic political paralysis and low oil prices.
