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Weaker euro good for Lebanon’s economy

A devalued euro means more purchasing power for Lebanese economy, analyst says.

May 24, 2010 10:05 by

A stronger dollar and a declining euro may benefit Lebanon’s economy, according to market analyst Joseph Trevisani, the Daily Star reported Monday.

Regarding Lebanon’s imports from the euro zone, the weaker euro means domestic purchasing power is up around 60-70 percent, Trevisani contends.

And because Lebanon’s economy is pegged to the strengthening dollar, the analyst suggested that recent currency fluctuations will boost the nation’s economy, adding that for relatively small economies, “benefits of a currency peg largely outweigh the detriments,” the Daily Star quoted him as saying.

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