Lebanon Economic Monitor, Spring 2013 : Growing Tensions in a Resilient Economy

The Lebanon Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Lebanon. The political standoff combined with an escalating Syrian conflict...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
en_US
Published: Washington, DC 2015
Subjects:
GDP
M3
PEG
TAX
Online Access:http://documents.worldbank.org/curated/en/2013/04/24412470/lebanon-economic-monitor-april-2013-growing-tensions-resilient-economy
http://hdl.handle.net/10986/21967
id okr-10986-21967
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ACCOUNTING
ACCOUNTING FRAMEWORK
AGGREGATE DEMAND
AGRICULTURE
ANNUAL GROWTH
ARREARS
ASSETS
BALANCE OF PAYMENTS
BALANCE OF PAYMENTS DEFICIT
BALANCE SHEETS
BANK LENDING
BANK LOANS
BANKING SECTOR
BANQUE DU LIBAN
BASIS POINT
BASIS POINTS
BENEFICIARIES
BILL
BOND MARKET
BOND YIELDS
BUDGET DEFICIT
BUFFERS
BUSINESS CONFIDENCE
CAPITAL GAINS
CAPITAL INFLOWS
CASH PAYMENT
CENTRAL BANK
CHECKS
CIVIL SERVICE
COMMERCIAL BANKS
COMPARATIVE ADVANTAGE
COMPETITIVENESS
CONFIDENCE INDEX
CONSOLIDATION
CONSUMER CONFIDENCE
CONSUMERS
CONSUMPTION DEMANDS
CORE INFLATION
CORPORATE PROFITS
COST OF IMPORTS
COST OF LIVING
COUNTRY DEBT
CREDIT RATING
CREDIT RISK
CURRENT ACCOUNT
CURRENT ACCOUNT DEFICIT
CURRENT ACCOUNT DEFICITS
DEBT RATIO
DEBT REDUCTION
DEBT SERVICE
DEBT STOCK
DEBT STRUCTURE
DEFICITS
DEPOSIT
DEPOSITS
DERIVATIVES
DISBURSEMENTS
DISPOSABLE INCOME
DISTORTIONS
DOMESTIC CURRENCY
DOMESTIC ECONOMIC ACTIVITY
DOMESTIC INFLATION
DOMESTIC INTEREST RATES
DOMESTIC PRICES
DOWNWARD PRESSURE
ECONOMIC DEMAND
ECONOMIC DEVELOPMENTS
ECONOMIC GROWTH
ECONOMIC SLOWDOWN
EDUCATION SYSTEM
EMERGING MARKET
EMERGING MARKET COUNTRIES
EMERGING MARKETS
ENABLING ENVIRONMENT
ENTREPRENEURSHIP
EUROBOND
EXCHANGE RATE
EXCHANGE RATE RISK
EXPENDITURE
EXPENDITURES
EXPORTERS
EXTERNAL DEBT
EXTERNAL FACTORS
EXTERNAL INDEBTEDNESS
FINANCIAL ASSISTANCE
FINANCIAL MANAGEMENT
FINANCIAL MARKET
FINANCIAL MARKET PARTICIPANTS
FINANCIAL MARKETS
FINANCIAL SUPPORT
FISCAL BALANCE
FISCAL BURDEN
FISCAL DEFICIT
FISCAL POLICIES
FISCAL POLICY
FOREIGN CURRENCY
FOREIGN EXCHANGE
FOREIGN EXCHANGE RESERVE
FOREIGN EXCHANGE RESERVES
FOREIGN INFLOWS
GDP
GOVERNMENT DEFICIT
GOVERNMENT SPENDING
GROWTH PERFORMANCE
GROWTH RATE
HOUSEHOLDS
HOUSING
HUMAN CAPITAL
IMPORT
IMPORT GROWTH
IMPORTS
INCOME GROUPS
INCOME TAX
INCOME TAXES
INFLATION
INFLATION EXPECTATIONS
INFLATION RATE
INFLATION RATES
INFLATIONARY PRESSURES
INFRASTRUCTURE INVESTMENTS
INSURANCE
INTEREST INCOME
INTEREST PAYMENTS
INTEREST RATE
INTEREST RATE PAYMENTS
INTEREST RATE SPREADS
INTEREST RATES
INTERNATIONAL INTEREST
INTERNATIONAL INTEREST RATES
INTERNATIONAL PRICES
INTERNATIONAL RESERVES
INVENTORIES
INVENTORY
INVESTMENT DECISION
INVESTOR CONFIDENCE
JOB CREATION
LABOR FORCE
LABOR MARKET
LABOR MARKETS
LABOR MOBILITY
LAWS
LIQUIDITY
LIVING ADJUSTMENT
LOCAL BUSINESSES
LONG-TERM EXTERNAL DEBT
M3
MACROECONOMIC STABILITY
MARKET CAPITALIZATION
MARKET ENTRY
MARKET SHARE
MARKET YIELDS
MATURITIES
MIGRATION
MINIMUM WAGE
MONETARY POLICY
MONEY SUPPLY
MULTIPLIERS
NATIONAL INCOME
NET EXPORTS
NOMINAL WAGES
OUTPUT GAP
PEG
PENSION
PENSION REFORMS
PENSION SYSTEM
PENSIONS
PLEDGES
POLICY RESPONSES
POLITICAL INSTABILITY
POVERTY REDUCTION
PRICE INDEX
PRIVATE BANKS
PRIVATE CONSUMPTION
PRIVATE INVESTMENT
PRIVATE INVESTORS
PRIVATE SECTOR CREDIT
PRODUCTION DISRUPTIONS
PRODUCTIVITY
PROFITABILITY
PUBLIC DEBT
PUBLIC FINANCES
PUBLIC INVESTMENT
PUBLIC SERVICES
PURCHASING POWER
RE-EXPORTS
REAL ESTATE
REAL GDP
RECEIPTS
REFUGEE
REFUGEES
REGISTRATION FEES
REMITTANCES
RESERVE ACCUMULATION
RETURN
RISK EXPOSURE
RISK PERCEPTIONS
SAFETY NET
SAFETY NETS
SAVINGS
SHORT-TERM CAPITAL
SHORT-TERM EXTERNAL DEBT
SLOW GROWTH
SLOWDOWN
SOCIAL INSURANCE SYSTEM
SOCIAL NETWORKS
SOCIAL SAFETY NETS
SPARE CAPACITY
STOCK EXCHANGE
STOCK MARKET
STRUCTURAL REFORMS
SUPPLY DISRUPTIONS
SUPPLY SIDE
SURPLUS
T-BOND
TAX
TAX REVENUES
TAX SYSTEM
TOTAL DEPOSITS
TOTAL EXPORTS
TOTAL EXTERNAL DEBT
TOTAL IMPORT
TOTAL REVENUE
TRADE BALANCE
TRADE DEFICIT
TRADE UNIONS
TRADING
TRANSPORT
TREASURY
TREASURY BONDS
TUITION
UNCERTAINTY
UNEMPLOYMENT
UNEMPLOYMENT RATES
UPWARD PRESSURE
WEIGHTS
YIELD CURVE
YIELD SPREAD
spellingShingle ACCOUNTING
ACCOUNTING FRAMEWORK
AGGREGATE DEMAND
AGRICULTURE
ANNUAL GROWTH
ARREARS
ASSETS
BALANCE OF PAYMENTS
BALANCE OF PAYMENTS DEFICIT
BALANCE SHEETS
BANK LENDING
BANK LOANS
BANKING SECTOR
BANQUE DU LIBAN
BASIS POINT
BASIS POINTS
BENEFICIARIES
BILL
BOND MARKET
BOND YIELDS
BUDGET DEFICIT
BUFFERS
BUSINESS CONFIDENCE
CAPITAL GAINS
CAPITAL INFLOWS
CASH PAYMENT
CENTRAL BANK
CHECKS
CIVIL SERVICE
COMMERCIAL BANKS
COMPARATIVE ADVANTAGE
COMPETITIVENESS
CONFIDENCE INDEX
CONSOLIDATION
CONSUMER CONFIDENCE
CONSUMERS
CONSUMPTION DEMANDS
CORE INFLATION
CORPORATE PROFITS
COST OF IMPORTS
COST OF LIVING
COUNTRY DEBT
CREDIT RATING
CREDIT RISK
CURRENT ACCOUNT
CURRENT ACCOUNT DEFICIT
CURRENT ACCOUNT DEFICITS
DEBT RATIO
DEBT REDUCTION
DEBT SERVICE
DEBT STOCK
DEBT STRUCTURE
DEFICITS
DEPOSIT
DEPOSITS
DERIVATIVES
DISBURSEMENTS
DISPOSABLE INCOME
DISTORTIONS
DOMESTIC CURRENCY
DOMESTIC ECONOMIC ACTIVITY
DOMESTIC INFLATION
DOMESTIC INTEREST RATES
DOMESTIC PRICES
DOWNWARD PRESSURE
ECONOMIC DEMAND
ECONOMIC DEVELOPMENTS
ECONOMIC GROWTH
ECONOMIC SLOWDOWN
EDUCATION SYSTEM
EMERGING MARKET
EMERGING MARKET COUNTRIES
EMERGING MARKETS
ENABLING ENVIRONMENT
ENTREPRENEURSHIP
EUROBOND
EXCHANGE RATE
EXCHANGE RATE RISK
EXPENDITURE
EXPENDITURES
EXPORTERS
EXTERNAL DEBT
EXTERNAL FACTORS
EXTERNAL INDEBTEDNESS
FINANCIAL ASSISTANCE
FINANCIAL MANAGEMENT
FINANCIAL MARKET
FINANCIAL MARKET PARTICIPANTS
FINANCIAL MARKETS
FINANCIAL SUPPORT
FISCAL BALANCE
FISCAL BURDEN
FISCAL DEFICIT
FISCAL POLICIES
FISCAL POLICY
FOREIGN CURRENCY
FOREIGN EXCHANGE
FOREIGN EXCHANGE RESERVE
FOREIGN EXCHANGE RESERVES
FOREIGN INFLOWS
GDP
GOVERNMENT DEFICIT
GOVERNMENT SPENDING
GROWTH PERFORMANCE
GROWTH RATE
HOUSEHOLDS
HOUSING
HUMAN CAPITAL
IMPORT
IMPORT GROWTH
IMPORTS
INCOME GROUPS
INCOME TAX
INCOME TAXES
INFLATION
INFLATION EXPECTATIONS
INFLATION RATE
INFLATION RATES
INFLATIONARY PRESSURES
INFRASTRUCTURE INVESTMENTS
INSURANCE
INTEREST INCOME
INTEREST PAYMENTS
INTEREST RATE
INTEREST RATE PAYMENTS
INTEREST RATE SPREADS
INTEREST RATES
INTERNATIONAL INTEREST
INTERNATIONAL INTEREST RATES
INTERNATIONAL PRICES
INTERNATIONAL RESERVES
INVENTORIES
INVENTORY
INVESTMENT DECISION
INVESTOR CONFIDENCE
JOB CREATION
LABOR FORCE
LABOR MARKET
LABOR MARKETS
LABOR MOBILITY
LAWS
LIQUIDITY
LIVING ADJUSTMENT
LOCAL BUSINESSES
LONG-TERM EXTERNAL DEBT
M3
MACROECONOMIC STABILITY
MARKET CAPITALIZATION
MARKET ENTRY
MARKET SHARE
MARKET YIELDS
MATURITIES
MIGRATION
MINIMUM WAGE
MONETARY POLICY
MONEY SUPPLY
MULTIPLIERS
NATIONAL INCOME
NET EXPORTS
NOMINAL WAGES
OUTPUT GAP
PEG
PENSION
PENSION REFORMS
PENSION SYSTEM
PENSIONS
PLEDGES
POLICY RESPONSES
POLITICAL INSTABILITY
POVERTY REDUCTION
PRICE INDEX
PRIVATE BANKS
PRIVATE CONSUMPTION
PRIVATE INVESTMENT
PRIVATE INVESTORS
PRIVATE SECTOR CREDIT
PRODUCTION DISRUPTIONS
PRODUCTIVITY
PROFITABILITY
PUBLIC DEBT
PUBLIC FINANCES
PUBLIC INVESTMENT
PUBLIC SERVICES
PURCHASING POWER
RE-EXPORTS
REAL ESTATE
REAL GDP
RECEIPTS
REFUGEE
REFUGEES
REGISTRATION FEES
REMITTANCES
RESERVE ACCUMULATION
RETURN
RISK EXPOSURE
RISK PERCEPTIONS
SAFETY NET
SAFETY NETS
SAVINGS
SHORT-TERM CAPITAL
SHORT-TERM EXTERNAL DEBT
SLOW GROWTH
SLOWDOWN
SOCIAL INSURANCE SYSTEM
SOCIAL NETWORKS
SOCIAL SAFETY NETS
SPARE CAPACITY
STOCK EXCHANGE
STOCK MARKET
STRUCTURAL REFORMS
SUPPLY DISRUPTIONS
SUPPLY SIDE
SURPLUS
T-BOND
TAX
TAX REVENUES
TAX SYSTEM
TOTAL DEPOSITS
TOTAL EXPORTS
TOTAL EXTERNAL DEBT
TOTAL IMPORT
TOTAL REVENUE
TRADE BALANCE
TRADE DEFICIT
TRADE UNIONS
TRADING
TRANSPORT
TREASURY
TREASURY BONDS
TUITION
UNCERTAINTY
UNEMPLOYMENT
UNEMPLOYMENT RATES
UPWARD PRESSURE
WEIGHTS
YIELD CURVE
YIELD SPREAD
World Bank
Lebanon Economic Monitor, Spring 2013 : Growing Tensions in a Resilient Economy
geographic_facet Middle East and North Africa
Lebanon
relation Lebanon Economic Monitor;
description The Lebanon Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Lebanon. The political standoff combined with an escalating Syrian conflict hampered growth in 2012, and is projected to continue doing so through the first half of 2013. Economic growth in 2012 is estimated to have decelerated to 1.4 percent due to a weak second half of 2012 following a downturn in the security situation. The major fiscal expansion that took place in 2012 is creating fiscal challenges for 2013, particularly in the context of a promised increase in public salaries. The fiscal expansion, measured by the change in the central government s primary fiscal balance, reached a staggering 4.6 percentage points of GDP in 2012. The overall fiscal deficit reached 9.4 percent of GDP in 2012. Inflationary pressures rose despite tepid economic activity. Headline inflation accelerated notably in the second half of 2012. Core inflation has also been on an upward trend, reaching 5.3 percent by end-2012. Domestically, inflationary pressures can primarily be attributed to (i) increases in disposable income in early 2012 due to the increase in the minimum wage and public sector salaries cost of living adjustment; and (ii) a cumulative output gap that remains positive following above-potential growth in 2007-2010. The conflict in Syria, a country that is closely linked, both through historical, social and economic ties to Lebanon has created a humanitarian crisis of enormous scale. While Lebanon is to be commended for its openness to Syrian refugees, the conflict is severely and negatively impacting the Lebanese economy. The largest impact arises through the insecurity and uncertainty spillovers and touches at the heart of Lebanon s societal fabric.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Lebanon Economic Monitor, Spring 2013 : Growing Tensions in a Resilient Economy
title_short Lebanon Economic Monitor, Spring 2013 : Growing Tensions in a Resilient Economy
title_full Lebanon Economic Monitor, Spring 2013 : Growing Tensions in a Resilient Economy
title_fullStr Lebanon Economic Monitor, Spring 2013 : Growing Tensions in a Resilient Economy
title_full_unstemmed Lebanon Economic Monitor, Spring 2013 : Growing Tensions in a Resilient Economy
title_sort lebanon economic monitor, spring 2013 : growing tensions in a resilient economy
publisher Washington, DC
publishDate 2015
url http://documents.worldbank.org/curated/en/2013/04/24412470/lebanon-economic-monitor-april-2013-growing-tensions-resilient-economy
http://hdl.handle.net/10986/21967
_version_ 1764449558255894528
spelling okr-10986-219672021-04-23T14:04:05Z Lebanon Economic Monitor, Spring 2013 : Growing Tensions in a Resilient Economy World Bank ACCOUNTING ACCOUNTING FRAMEWORK AGGREGATE DEMAND AGRICULTURE ANNUAL GROWTH ARREARS ASSETS BALANCE OF PAYMENTS BALANCE OF PAYMENTS DEFICIT BALANCE SHEETS BANK LENDING BANK LOANS BANKING SECTOR BANQUE DU LIBAN BASIS POINT BASIS POINTS BENEFICIARIES BILL BOND MARKET BOND YIELDS BUDGET DEFICIT BUFFERS BUSINESS CONFIDENCE CAPITAL GAINS CAPITAL INFLOWS CASH PAYMENT CENTRAL BANK CHECKS CIVIL SERVICE COMMERCIAL BANKS COMPARATIVE ADVANTAGE COMPETITIVENESS CONFIDENCE INDEX CONSOLIDATION CONSUMER CONFIDENCE CONSUMERS CONSUMPTION DEMANDS CORE INFLATION CORPORATE PROFITS COST OF IMPORTS COST OF LIVING COUNTRY DEBT CREDIT RATING CREDIT RISK CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT RATIO DEBT REDUCTION DEBT SERVICE DEBT STOCK DEBT STRUCTURE DEFICITS DEPOSIT DEPOSITS DERIVATIVES DISBURSEMENTS DISPOSABLE INCOME DISTORTIONS DOMESTIC CURRENCY DOMESTIC ECONOMIC ACTIVITY DOMESTIC INFLATION DOMESTIC INTEREST RATES DOMESTIC PRICES DOWNWARD PRESSURE ECONOMIC DEMAND ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC SLOWDOWN EDUCATION SYSTEM EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENABLING ENVIRONMENT ENTREPRENEURSHIP EUROBOND EXCHANGE RATE EXCHANGE RATE RISK EXPENDITURE EXPENDITURES EXPORTERS EXTERNAL DEBT EXTERNAL FACTORS EXTERNAL INDEBTEDNESS FINANCIAL ASSISTANCE FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKET PARTICIPANTS FINANCIAL MARKETS FINANCIAL SUPPORT FISCAL BALANCE FISCAL BURDEN FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVE FOREIGN EXCHANGE RESERVES FOREIGN INFLOWS GDP GOVERNMENT DEFICIT GOVERNMENT SPENDING GROWTH PERFORMANCE GROWTH RATE HOUSEHOLDS HOUSING HUMAN CAPITAL IMPORT IMPORT GROWTH IMPORTS INCOME GROUPS INCOME TAX INCOME TAXES INFLATION INFLATION EXPECTATIONS INFLATION RATE INFLATION RATES INFLATIONARY PRESSURES INFRASTRUCTURE INVESTMENTS INSURANCE INTEREST INCOME INTEREST PAYMENTS INTEREST RATE INTEREST RATE PAYMENTS INTEREST RATE SPREADS INTEREST RATES INTERNATIONAL INTEREST INTERNATIONAL INTEREST RATES INTERNATIONAL PRICES INTERNATIONAL RESERVES INVENTORIES INVENTORY INVESTMENT DECISION INVESTOR CONFIDENCE JOB CREATION LABOR FORCE LABOR MARKET LABOR MARKETS LABOR MOBILITY LAWS LIQUIDITY LIVING ADJUSTMENT LOCAL BUSINESSES LONG-TERM EXTERNAL DEBT M3 MACROECONOMIC STABILITY MARKET CAPITALIZATION MARKET ENTRY MARKET SHARE MARKET YIELDS MATURITIES MIGRATION MINIMUM WAGE MONETARY POLICY MONEY SUPPLY MULTIPLIERS NATIONAL INCOME NET EXPORTS NOMINAL WAGES OUTPUT GAP PEG PENSION PENSION REFORMS PENSION SYSTEM PENSIONS PLEDGES POLICY RESPONSES POLITICAL INSTABILITY POVERTY REDUCTION PRICE INDEX PRIVATE BANKS PRIVATE CONSUMPTION PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATE SECTOR CREDIT PRODUCTION DISRUPTIONS PRODUCTIVITY PROFITABILITY PUBLIC DEBT PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC SERVICES PURCHASING POWER RE-EXPORTS REAL ESTATE REAL GDP RECEIPTS REFUGEE REFUGEES REGISTRATION FEES REMITTANCES RESERVE ACCUMULATION RETURN RISK EXPOSURE RISK PERCEPTIONS SAFETY NET SAFETY NETS SAVINGS SHORT-TERM CAPITAL SHORT-TERM EXTERNAL DEBT SLOW GROWTH SLOWDOWN SOCIAL INSURANCE SYSTEM SOCIAL NETWORKS SOCIAL SAFETY NETS SPARE CAPACITY STOCK EXCHANGE STOCK MARKET STRUCTURAL REFORMS SUPPLY DISRUPTIONS SUPPLY SIDE SURPLUS T-BOND TAX TAX REVENUES TAX SYSTEM TOTAL DEPOSITS TOTAL EXPORTS TOTAL EXTERNAL DEBT TOTAL IMPORT TOTAL REVENUE TRADE BALANCE TRADE DEFICIT TRADE UNIONS TRADING TRANSPORT TREASURY TREASURY BONDS TUITION UNCERTAINTY UNEMPLOYMENT UNEMPLOYMENT RATES UPWARD PRESSURE WEIGHTS YIELD CURVE YIELD SPREAD The Lebanon Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Lebanon. The political standoff combined with an escalating Syrian conflict hampered growth in 2012, and is projected to continue doing so through the first half of 2013. Economic growth in 2012 is estimated to have decelerated to 1.4 percent due to a weak second half of 2012 following a downturn in the security situation. The major fiscal expansion that took place in 2012 is creating fiscal challenges for 2013, particularly in the context of a promised increase in public salaries. The fiscal expansion, measured by the change in the central government s primary fiscal balance, reached a staggering 4.6 percentage points of GDP in 2012. The overall fiscal deficit reached 9.4 percent of GDP in 2012. Inflationary pressures rose despite tepid economic activity. Headline inflation accelerated notably in the second half of 2012. Core inflation has also been on an upward trend, reaching 5.3 percent by end-2012. Domestically, inflationary pressures can primarily be attributed to (i) increases in disposable income in early 2012 due to the increase in the minimum wage and public sector salaries cost of living adjustment; and (ii) a cumulative output gap that remains positive following above-potential growth in 2007-2010. The conflict in Syria, a country that is closely linked, both through historical, social and economic ties to Lebanon has created a humanitarian crisis of enormous scale. While Lebanon is to be commended for its openness to Syrian refugees, the conflict is severely and negatively impacting the Lebanese economy. The largest impact arises through the insecurity and uncertainty spillovers and touches at the heart of Lebanon s societal fabric. 2015-05-21T17:08:19Z 2015-05-21T17:08:19Z 2013-04 Report http://documents.worldbank.org/curated/en/2013/04/24412470/lebanon-economic-monitor-april-2013-growing-tensions-resilient-economy http://hdl.handle.net/10986/21967 English en_US Lebanon Economic Monitor; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Middle East and North Africa Lebanon