Gross Public Debt Up Yearly by 4.7% to $98.73B by August 2021

The data released by the Ministry of Finance (MoF) recently, indicated that Lebanon’s gross public debt hit $98.73B in August 2021, thereby recording an annual increase of 4.7%.

The rise is mainly attributed to the annual increase in both local and foreign currency debt by 3.35% and 7.06%, respectively. In details, debt in local currency (denominated in LBP) stood at $61.02B in August 2021. As such, domestic debt constituted 61.81% of the total public debt.

Meanwhile, total debt denominated in foreign currency (namely in USD) reached $37.71B over the same period. Therefore, total foreign debt grasped a stake of 38.19% of the total public debt by August 2021. It is worth mentioning that $7.39B represents the unpaid Eurobonds, their coupons and accrued interests, due to the default on government Eurobonds in March 2020.

Looking at net domestic debt, which excludes public sector deposits with the central bank and commercial banks, it decreased by 1.07% YTD to $48.87 in August 2021.

Domestic and Foreign Debt by August ($B)

Gross Public Debt Up Yearly by 4.7% to $98.73B by August 2021

Source: MoF, BLOMINVEST Bank

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