IMF Report: Positive figures exceeding the forecast

          The semestrial report of International Monetary Funds (IMF) on the financial and economical situations of Lebanon, has given positive results on its totality, paradoxally to the forecasts at the beginning of the year 2004, thus surprising the economical circles.

          What are the most important points included in this report?

          The positive indications included are the following:

          1 – The rate of economic growth forecasted for the year 2005 is 5%. This growth is due to the improvement of the touristic activity, the export and to real estate and construction sectors.

          2 – Lebanon remains a magnetic center of attraction to the foreign and Arab investors and particularly in the real estate sector.

          3 – The growth of the monetary block is in the range of 12%, which reflects the permanent influx of external funds towards Lebanon.

          4 – For the first time since the civil war, it forecasted the drop of deficit from14.6% in 2003 to 8% in 2004 in respect to national growth.

          5 – The continuous growth of reserves in foreign currency has contributed to shelter the emerging markets from the various exerted pressures.