After a delay in government formation efforts, Lebanon’s economy is expected to contract further in 2021, in addition to drops in private consumption and exacerbating economic, exchange rate and debt ... read more
According to Ministry of Finance (MoF) latest figures, Lebanon’s fiscal deficit (cash basis) stood at $2.80B by October 2020, down from last year’s $4.02B. In detail, the substantial deficit is attributed ... read more
Lebanon struggles today amid galloping high inflation, characterized by an uncontrolled rise in prices. Undoubtedly, the main cause of this hyperinflation can be attributed to the increased supply of cash ... read more
According to the balance sheet of Banque du Liban (BDL), the central bank’s total assets added 3.93% compared to last year, to reach $154.71B by end of April 2021. Reasons behind the increase include the ... read more
Bank Audi published this week its audited consolidated financial results for end 2020. The Bank said in its statement that the unprecedented tough operating environment in Lebanon – reflected in a lasting ... read more
According to BDL’s latest monetary report, the BOP recorded a cumulative deficit of $847.2M by March 2021, compared to a deficit of $1062.1M over the same period last year. Accordingly, Net foreign Assets ... read more
With the financial crisis and political uncertainty, Lebanese commercial banks’ health is Jeopardized. Total assets of Lebanese commercial banks decreased by 0.95%, year-to-date (y-t-d), and stood at ... read more
After October 2019, transferring money abroad has become almost unfeasible due to the informal restrictions applied by the commercial banks in Lebanon. Likewise, economists claim that formal capital ... read more
The Association of Car Importers in Lebanon (denoted as AIA) recently shared its automotive report which explains that “As a result of the dramatic Beirut Port Explosion on 4/8/2020, the damages that ... read more
As per the data published by the Association of Lebanese Banks’ (ABL), the total number of cleared checks in the Lebanese financial system slumped from 2,496,338 checks by March 2020 to 911,785 checks by ... read more
Byblos Bank published on Friday April 30, 2021 its un-audited financial results for Q1 2021. As expected, the results were impacted by the current crisis affecting the Lebanese economy. Net profit in Q1 ... read more
Beirut Airport activity retracted by 54.52% year-on-year (YOY) in March 2021 as tourism activity is low due to worldwide pandemic. Accordingly, the number of passengers was reduced drastically, falling ... read more
BLOM Bank published today, 29/4/2021, its un-audited consolidated financial results for Q1 2021. The results obtained were largely affected by the impact of the financial and economic crisis that has ... read more
According to the Central Administration of Statistics (CAS), the Consumer Price Index (CPI), which gives an overview about the evolution of goods and services’ prices consumed by households, revealed that ... read more
According to the data from the Orders of Engineers in Beirut and Tripoli, the total construction permits witnessed a year-on-year (YOY) decrease of 59.94% to reach 496 permits by February 2021. Notably, ... read more
After the deadly blast on the 4th of August 2020 in the port of Beirut that ruined the entire port and half of Beirut city, another dramatic event has occurred this week due to drugs smuggling. In details ... read more
According to the balance sheet of Banque du Liban (BDL), the central bank’s total assets added 4.04% compared to last year, to reach $153.7B by mid-April 2021. Reasons behind the increase include the 2.77% ... read more
According to Ministry of Finance (MoF) latest figures, Lebanon’s fiscal deficit (cash basis) stood at $2.61B by September 2020, down from last year’s $3.59B. In detail, the deficit is attributed to the ... read more
In its latest report on exchange rate unification published on 21 April 2021, the IIF surveys briefly the experiences of 12 countries with multiple exchange rates. The report argues that the parallel ... read more
The data released by the Ministry of Finance (MoF) recently, indicated that Lebanon’s gross public debt hit $95.94B in the first month of 2021, thereby recording an annual increase of 4.3%. The rise is ... read more
In an Issuer Comment published on 20 April 2021, Moody’s commented that “encroaching on banks’ mandatory reserves held at the BdL amid a persistent government deadlock would increase banks’ ... read more
As the economic situation has been deteriorating in Lebanon and banks have started enforcing illegal capital control measures, depositors were ready to act on whatever means possible to save their money ... read more
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