Lebanese economy seen to grow 2% in 2014: IMF

May 12, 2014 10:44 am

The International Monetary Fund (IMF) has said despite two years of violence, political paralysis and a huge refugee influx, Lebanon’s economy is expected to grow by 2% this year and a “modest 4% over the medium term,” The Daily Star has reported. The IMF also said that Lebanon should “urgently strengthen policies” and its fiscal priority should be to “put public debt on a sustainable downward path.” Lebanon’s primary budget turned negative in 2012 and deteriorated further in 2013 to 141% of GDP, as the government came under pressure to spend and economic activity dropped, the IMF report said.