Reminder: Lebanon’s economy in numbers 1990 – 1993

06Feb08

In the second period, 1990 to the present, real attempts at economic stabilization have been made. Etudes et Consultations Economiques, a highly respected Lebanese consulting firm, estimates that in the period 1990-93, Lebanon’s economy displayed the following features:1

  • GDP rose steadily, from $2.672 billion to $5.920 billion.
  • Balance of payments went from a deficit of $402.1 million to a surplus of $1.137 billion.
  • External debt decreased from $535 million to $375 million.
  • Inflation plummeted from 116 percent to 9 percent.
  • Private-sector deposits more than doubled, from $4.47 billion to $9.21 billion.
  • Deposits of Lebanese pounds surged from $1.4 billion to $3 billion.
  • Imports more than doubled, from $2.373 billion to $4.954 billion.
  • Construction permits jumped from 2.2 million square meters to 13.4 million square meters.
  • In 1993, Lebanon was the Middle Eastern state with the highest growth rate, 7.1 percent. 

Lebanon has emerged from the ashes and is steadily regaining its former vitality. Get the feeling someone is jealous? Today, We have problems all around us, and werefuse to nudge.  They may bomb many more time – We’ve seen worse – we Lebanese know very well – it is an outside job!Lebanese want the right to live! 

1 Lebanon Investor’s Guide 1994 (Beirut: Strategic and Economic Information Center, 1994), pp. 12-15 
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