Lebanon Economic Monitor, Spring 2017
The election of President Michel Aoun in October 2016 after almost two and a half years of a presidential vacancy, and the subsequent formation of a national unity government have generated hope for the resuscitation of the political process in Leb...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/568551493132224115/A-Call-for-Action http://hdl.handle.net/10986/26493 |
| Summary: | The election of President Michel Aoun in
October 2016 after almost two and a half years of a
presidential vacancy, and the subsequent formation of a
national unity government have generated hope for the
resuscitation of the political process in Lebanon.
Nonetheless, the protracted Syrian conflict is markedly
worsening the country's vulnerabilities and remains an
impediment to the return to potential growth. For the fifth
year, Lebanon persists as the largest host (on a per capita
basis) for displaced Syrians. In 2016, real GDP growth
underwent a slight acceleration to reach an estimated 1.8
percent, compared to 1.3 percent in 2015. This was driven by
an improvement in the real estate sector, marking a low
threshold-effect from a weak performance in 2015 – cement
deliveries expanded by 4.4 percent in 2016 compared to a
contraction of 8.6 percent in 2015. Real GDP growth was also
boosted by tourist arrivals, an indicator that registered an
11.2 percent growth in 2016. Nonetheless, economic activity
persists below potential, inhibited by geopolitical and
security conditions, which remain decidedly volatile. |
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