Real GDP in Lebanon to grow by 2.5% this year

As part of its global economic forecasts issued last week, the IMF estimated that real GDP growth in Lebanon will reach 2.5% this year thus recording a slight improvement over 2014 rate of 2.0%. The report expects that GDP will reach USD 54.7 billion in the current year compared to USD 49.9 billion in 2014 and USD 47.6 billion in 2013. With a population estimation of 4.6 million inhabitants, the GDP per capita is expected to reach USD12006 thus rising from USD 11068 in 2014 and USD 10655 in 2013. This slight improvement in the economic performance is accompanied by the relative stabilization of inflation. The IMF expects a low inflation rate of 1.1% in 2015 compared to 1.9% in 2014 and 4.8% in 2013 especially as a result of the global drop in oil prices. Furthermore, IMF added that the decline in oil imports this year will reflect positively on the country’s trade deficit compared to the GDP which will decrease to 22.2% in 2015, from 26.7% in 2013 and 24.9% in 2014.