IMF Projects Lebanon's Economic Growth up Until 2023

  • Economics
IMF Projects Lebanon's Economic Growth up Until 2023

The International Monetary Fund's (IMF) economic growth estimates for Lebanon were downwardly revised to 1.2% for the year 2017 (down from an estimated 1.5% in its October 2017 report) and 1.5% for 2018 (down from 2.0%), with said growth expected to reach 1.8% in 2019 and 2.8% in 2023.

The IMF report, published in the latest Credit Libanais Market Watch, predicted that Lebanon will witness a worsening of the current account deficit in the coming period of 25.0% of GDP in the year (compared with 18.0% in the October version of the report) to 25.8% in 2018 (compared with 16.8%), falling back to 25.2% in 2019 and 23.4% in 2023.

In terms of price inflation, the report estimated the average growth rate of the consumer price index in Lebanon at 4.5% in 2017, 4.3% in 2018 and 4.0% in 2019.

Source: IMF and Credit Libanais Economic Research Unit