A report published by “Audi Bank” revealed that after a 3.3% growth in 2019, real GDP growth in Lebanon will slow down to 2.4% in 2020 as Syria's growth slows and the global demand growth weakens, according to a recent memorandum issued by the Economic Intelligence Unit.
The economic growth rate is expected to rise by 3.4% between 2021 and 2022, due to the gradual development of the oil and gas sector in Lebanon and the increase in aid and loan flows, which will allow to increase the spending on the infrastructure.
According to the report, the local and regional instability would affect the continuity of funds’ flow to Lebanon. In 2023, the economic performance will decline due to the renewed political uncertainty, as the prospect of new elections reduces the confidence in consumers’ sentiment, leading to an average growth of 2.9 percent. Percent.
Source: (Economic Bulletin website, Edited)
