Monday, 22 July 2019 09:05 GMT
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Lebanese 2019 economic growth to hit zero: central bank




(MENAFN) Lebanon is forecast to hit zero in its economic growth for this year, governor of the central bank Riad Salameh revealed.

However, the Lebanese economic growth has the potential to see development on the back of flourishing tourism sector, the governor assured.

Efforts the Lebanese government is making to slash the public debt servicing cost in this year's budget is endorsed by the central bank.

This year's draft state budget witnessed a reduction in servicing the cost of public debt, with the budget looking to stand at 7.6 percent of the GDP in the deficit.

Salameh stated: "I think the outlook could be better starting in the second half of this year because of the consumer improvement due to a good touristic season but we have to wait and see."

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Lebanese 2019 economic growth to hit zero: central bank

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