Besides international entities regular estimates of Lebanon’s economic aggregates, the country started, since 1997, creating its national accounts, a key measurement instrument of a country’s economic performance. The national accounts provide a comprehensive and coherent view of the economy, relevant for macroeconomic analysis, intertemporal and international comparisons.
For the second year in a row, the Central Administration of Statistics (CAS) is compiling national accounts and subsequently releasing and revising estimates of Gross Domestic Product (GDP). After being entrusted to a unit in the Prime minister’s office since 1997, the mission was transferred back to CAS, where more adequate resources are available. The latter has revised the used methodology to be in conformity with international standards, along with using a broader set of data and introducing the VAT returns as part of the accounting. The released accounts last week provided estimates for 2013 and 2012’s GDP, and revised previous real GDP growth of 2011.Tables and comments presenting the GDP main aggregates were also provided along with the GDP’s breakdown by activity, its expenditure components and sector accounts for the banks and for the general government…
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2013 National Accounts Show Minor Economic Growth