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Economic Performance

Due to its sound macroeconomic policies, the Lebanese economy has managed to outperform some of its regional peers' growth levels, sustaining robust economic growth levels over the last few years. According to the World Bank’s “Lebanon Economic Monitor”, economic activity started to pick up in the second half of 2014, despite regional uncertainties, fueled by stronger economic performance and lower oil prices which pushed real GDP growth to an estimated 2.0% in 2014, compared to 1.5% in 2013. Renewed improvement in security conditions in 2015 and the launch of a national dialogue are likely to positively impact consumer and investor confidence. In addition, continuously low oil prices are expected to have a positive net impact on the economy. As a result, real GDP growth this year is projected to further accelerate to 2.5%.

 

This performance comes in the backdrop of the "golden years" for the Lebanon, where GDP growth rates reached their all times high between 2008 and 2010, with a 9.3% growth in 2008, 8.5% in 2009, and 7.5% in 2010, making Lebanon one of the best performers among regional and emerging economies. Its resilient banking system and prudent monetary policies have provided the right tools to mitigate the consequences of international and regional disturbances. Monetary stability has been a determining factor in Lebanon's economic attractiveness: the closely managed exchange rate and absence of foreign exchange controls and restrictions on the movement of capital has fostered financial stability and enabled to maintain a strong and highly liquid banking industry. Since 2011, the Lebanese economy has however been affected by the on-going regional turmoil and its GDP growth levels – though remaining positive – declined substantially to 1.5% for 4 years in a row, as per IMF estimates.

Get in Touch
Lazarieh Tower, 4th Floor, Emir Bechir Street, Riad El-Solh Beirut, Lebanon, P.O.Box 113-7251
Phone
+961 1 983306 / 7 / 8
Fax
+961 1 983302 /3
Lebanon at a Glance
Useful Addresses