Lebanese Gross Public Debt Surged to $65.62B by July

The Lebanese gross public debt reached $65.62B in the first seven months of 2014, rising by 8.92% from its value in the same period last year.

Debt in domestic currency, grasping a share of 60.28% of total gross debt, surged by 16.14% year-on-year (y-o-y) to reach $39.55B; while foreign currency debt  fell marginally by 0.46% y-o-y to $26.06B.

The Net Public Debt, which is net of public sector deposits at commercial banks and the Central Bank, surged by 7.86% annually, reaching $55.17B.

Commercial banks remained to be the major holders of LBP denominated government debt, having a share of 52.3%, followed by 30.2% for the Central Bank, and 17.5% for the non-banking sector.

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