ECONOMY

Lebanese economic growth zero if not negative: Finance Minister

Lebanon’s economic growth is zero if not negative, according to the Lebanese finance minister. (File photo: Reuters)

Lebanon’s economic growth is zero if not negative, leading to pressure on the central bank’s foreign currency reserves, Finance Minister Ali Hassan Khalil said on Wednesday.

“The level of growth went back to zero, if not negative, and therefore this matter led to an increase in the pressure on (the central bank) reserve in foreign currencies, (and) the accumulation of the deficit in the treasury,” Khalil said.

The cost debt servicing had also moved higher with increased interest rates, he said in a televised news conference.

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Last Update: Wednesday, 18 September 2019 KSA 17:01 - GMT 14:01
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