A lot of rumors have been circulating lately regarding the economic situation in Lebanon. Every citizen, whether an economic expert or not, is worried about the liquidity in the system and is trying to analyze the different scenarios and probabilities of occurrence of an economic and/or financial crisis.
On the economic front, growth in the Lebanese economy was capped between 0% and 0.5% in the first 9 months of 2019 as indicated by the PMI level, and inflation remained subdued. The BLOM Purchasing Managers’ Index (PMI) shows private sector activity stalled at an average of 46.8 by Sept. 2019, capped below the 50-mark separating contraction from growth. Meanwhile, inflation eased to 2.77% by August 2019, down from last year’s 6.29% mainly owing it to a 10.7% annual downtick in oil prices to $64.8/barrel.
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Dissecting The Recent Economic Developments