Lebanon’s economy expected to grow by 5.8% in 2010
Economist Intelligence Unit report forecasts growth in exports and the tourism sector.
March 31, 2010 10:59 by Ben Flanagan
The Economist Intelligence Unit (EIU) predicts that Lebanon’s economy will grow by 5.8 percent this year and 5.5 percent in 2011, according to a report in The Daily Star.
The EIU’s projections, published by Bank Audi Weekly Monitor, also say that the export of goods and services is likely to remain Lebanon’s primary drivers of growth, as the country profits from improved economic expansion in the region.
As for the current-account deficit, the report predicts that further export and tourism growth and lower oil prices in 2011 will lower it to 7.6 percent of GDP.