“Bloomberg” revealed that the real GDP in Lebanon contracted by 25.9 percent during the past 2020 year, compared to a previous forecast of 17.8 percent in the September 2020 survey.
According to the agency, economic activity in Lebanon will record a recession in 2021, compared to a previous forecast of 1.5 percent contraction in the September 2020 survey.
Estimates ranged from a contraction of 20.6 to 35 percent, while expectations showed a decline in the real GDP in Lebanon by between 25 and 27.2 percent. In addition, individual analysts ’forecasts for the growth rate in 2021 ranged between -10% and 6.2%, while it was agreed unanimously among 62.5% of the survey respondents that the real GDP growth in Lebanon will range between 0% and 6.2% this year.
The result of the survey showed expectations of an average (median) contraction of the real GDP in Lebanon by 25% this year, compared to a previous average contraction of 15% in the September 2020 survey, and an average growth of 1% in 2021. The survey results are based on the opinions of nine experts and economic analysts based in Lebanon and abroad. Bloomberg conducted this survey in December 2020.
Source (Economic Newsletter Site, Edited)
