Gross Public Debt Up Yearly by 3.5% to reach $102.70B in September 2022

The data released by the Ministry of Finance (MoF) recently indicated that Lebanon’s gross public debt hit $102.70B in September 2022, thereby recording an annual increase of 3.5% YOY.

The rise is mainly attributed to the annual increase in both local and foreign currency debt by 1.29% and 7.13%, respectively. In details, debt in local currency (denominated in LBP) stood at $62.09B in September 2022. As such, domestic debt constituted 60.46% of the total public debt.

Meanwhile, total debt denominated in foreign currency (namely in USD) reached $40.61B over the same period. In turn, total foreign debt grasped a stake of 39.54% of the total public debt by September 2022. It is worth mentioning that $11.47B 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 5.77% YOY to $46.88B in September 2022. As a result, the public deposits are estimated at $14.19B, amassed to cover increasing salaries and social assistance payments to public employees.

Domestic and Foreign Debt by September 2022 ($B)

Gross Public Debt Up Yearly by 3.5% to reach $102.70B in September 2022

Source: MoF, BLOMINVEST Bank

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