Central Bank Governor: Lebanon Has 0% Economic Growth

  • Economics
Central Bank Governor: Lebanon Has 0% Economic Growth

Central Bank governor, Riad Salameh, said that Lebanon has achieved no economic growth so far in 2019, noting, however, the situation is expected to improve in the next six months.

“Despite the fact that we have this year 0% growth till now, we think at the horizon the prospects will be better for the Lebanese economy,” Salameh told a Euromoney conference in Beirut.

Salameh voiced support to the government’s efforts aiming to reduce the public debt servicing cost, adding that no agreement has been yet concluded with the banking sector over the issuance of low interest rate treasury bonds.

“We are going to discuss the best way to achieve that because we back it as a central bank, but nothing will be imposed on the banks,” he told Reuters on the sidelines of the conference.

Source: Kataeb.org