In spite of a 21% year-on-year (y-o-y) contraction in trade deficit and an improved performance in the tourism sector, Lebanon’s Balance of Payments (BoP) revealed a deficit of $1.32B in H1 2015, compared to a surplus of $215.7M, in the same period last year. This might be due to the overall weakening in European and GCCs economies following the deprecation of the Euro and the falling oil prices that in turn might have affected remittances.
Up until June, Net Foreign Assets (NFA) of the Central Bank (BDL) rose by $1.83B, while those of commercial banks fell by $3.15B.
However, In June alone, Lebanon’s BoP registered a deficit of $794M, compared to a lower deficit of $560.7M a month earlier. NFAs of BDL declined by $351.5M as well as those of commercial banks, which dropped by $442.8B, from the prior month.
Balance of Payments Up to June ($M)
Source: Banque du Liban