Lebanon Economic Monitoring Note, September 2012

The stalemate between domestic political forces continues to impede reforms while the ongoing Syrian conflict is imposing a security, political, and economic toll on Lebanon. The stalemate in the executive and legislative branches of government remains an impediment to reforms. Important bills, regulations and appointments are still pending in cabinet and Parliament. This deadlock could well last until the June 2013 Parliamentary elections. The Syrian crisis is fueling political divide among sectarian lines in Lebanon, leading to sporadic violence incidents across the country. These incidents have materially impacted the economy, with sectors such as tourism strongly affected. Politically, the turmoil has sparked social unrest and overshadowed the reform drive. To tackle the situation, the government devised a minimum political understanding to restore order in the country. Political backing for a large security operation has also been given; results have yet to fully materialize. The fiscal deficit and public debt positions remain major challenges for the Lebanese economy. The fiscal deficit deteriorated somewhat during the first half of the year. Notwithstanding this slight widening of the fiscal balance, public debt continues its recent downward trend. Rising international commodity prices and the Syrian crisis are adding further pressure on both trade and current account deficits.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	Washington, DC 2012-09
Subjects:	ACCOUNTING, ADMINISTRATIVE CAPACITY, ASSETS, AUDITING, BALANCE SHEET, BANKING SYSTEM, BANQUE DU LIBAN, BASIS POINTS, BIDS, BILL, BILLS, BORROWING, BUFFER, BUSINESS CYCLE, BUSINESS ENVIRONMENT, CAPITAL GAINS, CAPITAL INFLOWS, CDS, CENTRAL BANK, CERTIFICATES OF DEPOSITS, CHECKS, CIVIL SERVICE, COMMERCIAL BANK, COMMERCIAL BANKS, COMMODITY, COMMODITY PRICES, COMPETITION POLICIES, COMPETITIVENESS, CONSUMER PRICE INDEX, CREDIT MARKET, CREDITORS, CURRENT ACCOUNT, CURRENT ACCOUNT DEFICIT, CURRENT ACCOUNT DEFICITS, DEBT COMPOSITION, DEBT LEVEL, DEBT MANAGEMENT, DEBT RATIO, DEBT SERVICE, DEBT SWAP, DEMAND DEPOSITS, DEPOSITORS, DEPOSITS, DOMESTIC CONSUMPTION, DOMESTIC DEMAND, DOMESTIC INTEREST RATE, DOMESTIC MARKETS, ECONOMIC ACTIVITY, EQUIPMENT, EXCHANGE RATE, EXCHANGE RATE RISK, EXPENDITURE, EXPENDITURES, EXPOSURE, EXTERNAL DEBT, FINANCIAL INFLOWS, FINANCIAL MANAGEMENT, FINANCIAL SECTOR, FINANCIAL SECTOR INDICATORS, FISCAL BALANCE, FISCAL DEFICIT, FISCAL DISCIPLINE, FISCAL POLICY, FOOD PRICE, FOOD PRICES, FOREIGN ASSETS, FOREIGN CURRENCIES, FOREIGN CURRENCY, FOREIGN CURRENCY RESERVES, FOREIGN RESERVES, GENERAL EQUILIBRIUM, GOVERNMENT PAPERS, GOVERNMENT SPENDING, GROWTH RATES, HOUSEHOLDS, HOUSING, IMPORT, IMPORTS, INFLATION, INFLATIONARY PRESSURES, INFLOW OF CAPITAL, INFRASTRUCTURE INVESTMENT, INFRASTRUCTURE INVESTMENTS, INTEREST PAYMENTS, INTEREST RATE, INTEREST RATE PAYMENTS, INTEREST RATES, INTERNATIONAL INTEREST, INTERNATIONAL INTEREST RATES, JOB CREATION, LARGE CITIES, LAWS, LIQUIDITY, MACROECONOMIC VOLATILITY, MATURITIES, MATURITY, MIGRATION, MONETARY POLICY, MONEY SUPPLY, NATURAL RESOURCES, OIL PRICE, PENSION, PETROLEUM PRICES, POLITICAL UNCERTAINTY, POVERTY REDUCTION, PRICE INCREASE, PRIVATE SECTOR CREDIT, PRIVATE SECTOR GROWTH, PUBLIC DEBT, PUBLIC FINANCE, PUBLIC INVESTMENTS, PUBLIC SPENDING, REAL ESTATE, RECEIPTS, REGIONAL SHOCKS, REGISTRATION FEE, REGISTRATION FEES, REGULATORY AUTHORITY, RESERVE, RESERVE REQUIREMENTS, RESERVES, SLOW GROWTH, SLOWDOWN, SOCIAL DEMANDS, SOCIAL SECURITY, SOVEREIGN DEBT, SOVEREIGN RISK, STOCKS, STRUCTURAL PROBLEM, STRUCTURAL REFORMS, SUPPLY CHAIN, SURPLUS, TAX, TAX ON INTEREST INCOME, TAX REFORMS, TAX SYSTEM, TAXATION, TERM DEPOSITS, TOTAL DEBT, TRADE DEFICIT, TRADE DEFICITS, TRANSPARENCY, TRANSPORT, TREASURY, UNEMPLOYMENT, UNIONS, UPWARD PRESSURE, WEIGHTS,
Online Access:	http://documents.worldbank.org/curated/en/736581468054669841/Lebanon-Economic-monitoring-note https://hdl.handle.net/10986/27076
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