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SP sees slow economic revival for Lebanon

 
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Kirk
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PostPosted: Thu Feb 23, 2012 7:07 pm    Post subject: SP sees slow economic revival for Lebanon Reply with quote

Standard & Poor’s has said the path to recovery for Lebanon over the next few years will be slow, but maintained a stable outlook of the country’s banking sector, The Daily Star has reported. The rating agency dismissed the possibility of any quick rebound in growth rates, as regional and local instabilities continue to take a toll on the country’s various economic sectors. “S&P anticipates that real GDP growth will recover only gradually from an estimated 1.5% in 2011 to 5% in 2014, after an 8.2% average from 2007-2010,” S&P said. “We do not expect growth to match pre-2011 rates in the medium term, since they mainly resulted from a convergence of several key factors, including political and macroeconomic stability, and the global low interest rate environment, which drove capital inflows into Lebanon,” it added

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