According to the Lebanese Central Bank’s (BDL) new Monetary Overview for 2015, the Lebanese economy has proven to be resilient amid the political and security turbulences locally and regionally. However, these mayhems have halted real economic growth in Lebanon, with the economic growth standing at a rate below 1% and inflation rate near 0% in 2015. Moreover, the bearish oil trend resulted in lower levels of remittances, at $7.16B in 2015, which in turn, with lower exports and investments, led to an increasing deficit in the balance of payments, standing at $3B in 2015. As for public debt, it stood at $70.30B taking a 148.7% share of GDP. Despite this alarming situation, confidence in the Lebanese economy in general, and the Lebanese Pound in particular was not lost, due to the achievements accomplished on the monetary front.
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