National economy still in the red despite some recent improvements

The Association of Banks in Lebanon (ABL) figures have shown an increase in the overall public debt in Lebanon by USD 1.02 billion during March, 2017, reaching USD 77.17 billion, from USD 76.13 in February. On an annual level, the public debt increased by USD 6.12 billion as compared to its level in 2016 (USD 71.05 billion). The share of the banking sector from the overall debt has grown to 48.91% in March against 47.82% in February, according to ABL statistics. Moreover, the World Bank has lowered its estimation of the inflow of remittances of Lebanese expatriates to USD 7.3 billion in 2016, down from its October USD 7.6 billion estimates. In terms of foreign trade, a report prepared by the Industrial Information Department at the ministry of industry has indicated a drop by nearly 11.7% in exports during the first two months of 2017, standing at USD 372.6 million, against USD 422 million during the same period of 2016. On the other side, Fransabank economic bulletin (for the first quarter of the present year) noted a slight improvement in the performance of the Lebanese economy during the first quarter of 2017 compared to the first quarter of the year before. Most of productive and service sectors, the bulletin said, recorded some expansion in activity. As such, growth was noted in the value of agricultural and industrial exports (10.1%); real estate sales value (14.3%); the number of incoming travelers to Lebanon through Beirut Airport (0.1%); the volume of goods through Beirut Port (0.3%), the total number of tourists (12.6%) and their expenditures  (8%), during the said period. )Al Diyar, Al Mustaqbal, May 15, 18, 23, 24, 2017(
 
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