Figures released by the Ministry of Finance (MoF) revealed that Lebanon’s gross public debt climbed by a yearly 3.5% to hit $85.37B by May 2019. The rise came on the back of increase in local currency (LC) while foreign currency (FC) debt declined in the first 5 months of the year.
Total domestic debt increased by 13.69% YoY to reach a value of $53.22B. Moreover, the share of domestic debt of the total debt rose from 56.75% by May 2018 to 62.35% by May 2019. Meanwhile, Total gross foreign debt slipped by a yearly 9.90% to stand at $32.15B by May 2019, grasping 37.7% of the gross debt over the same period.
In turn, Net public debt which is government debt excluding public sector deposits at commercial banks and the central bank, increased by an annual 6.19% to reach $76.67B by May 2019.
Gross Public Debt by May (in $B)
Source: Ministry of Finance