IMF: Lebanon growth to hit 6 percent

IMF: Lebanon growth to hit 6 percent

Lebanon will be the fourth fastest growing economy in the Arab world, says report.

June 2, 2010 8:36 by Samuel Potter

The IMF has projected that Lebanon’s Gross Domestic Product will grow by 6 percent in 2010, reports the Daily Star.

In its latest economic outlook for the Middle East and Central Asia region, it aso predicted growth in GDP of 4.5 percent in 2011.

The IMF estimated the country’s GDP at $37 billion in 2010, compared to $33.6 billion in 2009. The growth rate compares favorably to the region’s growth as a whole; the Middle East, North Africa, Afghanistan and Pakistan economies are set for an overall growth of 4.2 percent, says the report.

The 2010 growth rate projections would make Lebanon the fourth fastest growing economy in the Arab world. Qatar is predicted to top the list with a huge 18.5 percent growth, while Yemen and Iraq will be second and third with 7.8 percent and 7.3 percent respectively, says the IMF.