In May 2023, Lebanon’s economy faced ongoing challenges amidst a volatile environment. Blom Lebanon PMI, which serves as an economic indicator, saw a slight decrease from 49.5 in April to 49.4 in ... read more
This (slightly technical) economic digest is prepared by Dr Samih Antoine Azar, Professor of Economics and Finance at Haigazian University. Menu costs are the costs of changing reported unit costs by a ... read more
Lebanon has been facing dire economic conditions started in the eruption of October 2019’s upheavals and the historical devaluation of the Lebanese currency followed by the State default on its sovereign ... read more
According to BDL’s latest monetary report, the BOP recorded a cumulative deficit of $3.2B by December 2022, far exceeding the deficit over the same period last year which totaled only $2B. Accordingly, Net ... read more
According to Lebanon’s consolidated commercial banks’ balance sheet, total assets decreased annually by 3.36% to stand at $169.05B by December 2022. Note that valuation in USD is still at the old official ... read more
BLOM Bank published on 6/2/2023 its consolidated but un-audited financial results for end 2022. The results obtained were naturally affected by the impact of the financial and economic crisis that has ... read more
In line with the Minister of Finance’s decision promulgated in October 2022, BDL announced yesterday the change of Lebanon’s official exchange rate per USD from 1,507 LBP to 15,000 LBP, effective 1/2/2023. ... read more
According to the balance sheet of Banque du Liban (BDL), the central bank’s total assets added 18.02% compared to last year, to reach $191.04B by end of January 2023. The increase was mainly due to the ... read more
According to the Central Administration of Statistics (CAS), the Consumer Price Index (CPI), representing the evolution of goods and services’ prices consumed by households, revealed that Lebanon’s monthly ... read more
According to the data published by the Association of Lebanese Banks’ (ABL), the total number of cleared checks in the Lebanese financial system slumped from 3,139,881 checks by 2021 to 1,557,226 checks by ... read more
According to the data from the General Directorate of Land Registry and Cadastre (LRC), the number of Real estate (RE) transactions went down by a yearly 27.34% to stand at 79,990 transactions by December ... read more
The IMF adjusted yesterday its outlook for the world economy based on expected positive developments globally. As such, “global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 ... read more
Byblos Bank published on 28/1/2023 its un-audited, consolidated financial results for end 2022. As expected, the results were impacted by the current but prolonged crisis affecting the Lebanese economy and ... read more
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 ... read more
According to Global Blue’s January to December 2022 “Globeshopper Spending” report for Lebanon, average tourist spending in Lebanon slumped by 19% by end of year 2022 compared to the previous year of 2021 ... read more
According to the data revealed by “Rasamny Younis Motor sal”, Lebanese car market witnessed an uptick of 39.58% annually to end up the year of 2022 at 6,563 cars by December compared to 4,702 cars by the ... read more
According to Ernst & Young Middle East hotel benchmark survey, the occupancy rate in Beirut’s 4- and 5-star hotels reached 49.6% percentage points (pp) by November 2022, up from last year’s percentage ... read more
According to the balance sheet of Banque du Liban (BDL), the central bank’s total assets added 14.19% compared to last year, to reach $187.27B by mid of January 2023. The increase was mainly due to the ... read more
On 20 January 2023, BDL issued three new circulars that make the changing of the official exchange rate to 15,000 LBP from 1,507.5 LBP highly possible by the beginning of February 2023. The three circulars ... read more
The Lebanese economy is highly reliant on international trade with larger importations generally driven by the notable strength of private consumption and relative lack of local industries in light of the ... read more
The activity at Rafic Hariri International Airport improved remarkably in 2022. The number of Beirut’s International airport passengers added 46.97% YOY and recorded 6,352,446 passengers by the end of 2022 ... read more
According to BDL’s latest monetary report, the BOP recorded a cumulative deficit of $3.21B by November 2022, double the deficit over the same period last year which totaled only $1.57B. Accordingly, Net ... read more
Disclaimer The content of this blog is for information purposes only. The information herein has been compiled from, or based upon sources we believe to be reliable, but we do not guarantee or accept responsibility for its completeness or accuracy. This document should not be construed as a solicitation to take part in any investment, or as constituting any representation or warranty on our part. The consequences of any action taken on the basis of information contained herein are solely the responsibility of the recipient.
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