Current Account in Lebanon
Lebanon - Current Account
Recent economic indicators make for grim reading. The private-sector PMI plummeted to an all-time low in November and remained well within contractionary territory in December amid lower output, new orders and employment. October figures for economic activity, cement deliveries and construction permits were also depressed, while a dollar shortage is crippling local businesses. Compounding matters, Fitch downgraded Lebanon’s credit rating further in December, arguing a debt default or restructuring was now likely. The government made a large bond payment in late November, with all eyes now turned to March, when a further USD 1.2 billion repayment is due. In politics, the president recently nominated Hassan Diab, a former education minister, as prime minister. However, Diab has yet to form a government, and political paralysis continues to accentuate the already-acute economic crisis.Lebanon - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -25.4 | -24.0 | -16.7 | -20.5 | -22.7 |
Lebanon Current Account Chart
Source: IMF.
Lebanon Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1,513 | 0.0 % | Dec 31 |
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