Gross Public Debt Increased 5.05% y-t-d by October 2014

Lebanese gross public debt reached $65.97B, displaying a 5.05% year-to-date(y-t-d) increase by October 2014. Gross public debt accounted for 138% of Lebanon’s GDP, compared to 140% of GDP in December 2013. Gross local currency debt leapt by 7.04% y-t-d to a value of LBP 60,274B ($39.98B), capturing a share of 60.60% of gross public debt. In contrast, debt denominated in foreign currencies displayed a 0.52% y-t-d decline to $26.42B as of end-October 2014. Net public debt, which is equal to the total public debt less the government’s deposits at both commercial banks and the Central Bank, revealed a 10.43% y-t-d increase to LBP 84,255B ($55.89B) by October 2014. Regarding outstanding T-bills denominated in local currency, commercial banks maintained their position as the majority holder, with a share of 51.59%, followed by the Central Bank with 31.28% and the non-banking sector with 17.13%.

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