The Lebanese Gross Public Debt (GPD) reached $69.19B (LBP 104,302B) in the 1st seven months of 2015, broadening by 5.40% year-on-year (y-o-y) and 3.94% year-to-date (y-t-d). Thus, Lebanon’s public debt reached 142.12% of Gross Domestic Product (GDP at end December 2014) by July compared to 136.75% in December 2014.
Debt in domestic currency, representing 61.48% of total gross debt, grew by a yearly 7.55% to reach the equivalent of $42.54B by July, while foreign currency debt increased by 2.07% y-o-y to stand at $26.63B or 54.70% fo GDP.
The Net Public Debt, which excludes public sector deposits at commercial banks and the Central Bank (BdL), grew by 7.84% annually to $59.52B, or 122.26% of GDP, and registered a 3.87% y-t-d increase by July 2015. Worth noting that public sector deposits have actually fallen yearly by 7.49% from $10.45B by July 2014 to $9.67B this year.
Commercial banks remained the largest subscribers of Treasury bills and bonds with a share of 48.0%, followed by 35.3% stake for BdL and 16.7% for the non-banking sector.
Share of Local Debt and Foreign Debt from Gross Public Debt in July
Source: Association of Banks in Lebanon