{"id":48581,"date":"2014-08-01T16:57:00","date_gmt":"2014-08-01T18:57:00","guid":{"rendered":"https:\/\/escaesco.com.br\/lab\/anba\/crisis-in-syria-will-impact-lebanese-economy-according-to-the-imf\/"},"modified":"2019-06-30T13:05:31","modified_gmt":"2019-06-30T16:05:31","slug":"crisis-in-syria-will-impact-lebanese-economy-according-to-the-imf","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/crisis-in-syria-will-impact-lebanese-economy-according-to-the-imf\/","title":{"rendered":"Crisis in Syria will impact Lebanese economy, according to the IMF"},"content":{"rendered":"

São Paulo – Broadening the tax base, readjusting the electricity tariffs and revising the planned salary increase for the public sector are the main suggestions a delegation of the International Monetary Fund (IMF) made to the Lebanese authorities by the end of their trip to the country in June. Their assessment of Lebanon’s economic situation was disclosed on Thursday (31st) and, according to the report released by the Fund, the Arab country’s economy is being negatively impacted by the political crisis of the neighbouring Syria.<\/p>\n

In addition to the uncertainties in the region caused by the crisis, Lebanon is receiving a large influx of Syrian refugees. The report notes that the arrival of such immigrants is “fuelling” already high unemployment and poverty and straining Lebanese public services.<\/p>\n

According to the statement, sectors which are traditional drivers of growth, such as real estate, construction and tourism, have been affected by the increasing uncertainty and worsening of security. IMF forecasts that Lebanese GDP had grown by 2.5% in 2012, 1.5% in 2013, and should grow by 1.8% this year and 2.5% in 2015. The growth, however, is expected to return gradually to only 4% per year.<\/p>\n

The report also notes that Lebanese authorities need to promote deep changes in economy. These reforms will have to, besides broadening the tax base, offset the cost of living to wages, boost job creation and reduce the public debt of the Arab country, which reached 141% of the GDP in 2013.<\/p>\n

“Growth is subdued, fiscal imbalances are widening, and public debt is rising. Directors emphasized that commitment to sound macroeconomic policies and structural reforms is essential to foster strong and sustainable growth and improve social conditions,” says the report.<\/p>\n

The Fund also noted that the banking sector and the financial market have been resilient to the crisis which has hit the country. However, banks profitability has deteriorated and the environment is increasingly challenging.<\/p>\n

*Translated by Rodrigo Mendonça<\/strong>  <\/p>\n

Archive\/ANBA<\/div>\n","protected":false},"excerpt":{"rendered":"

International Monetary Fund claims that political problems in the neighbouring country are affecting Lebanon and notes that revising electricity tariffs and broadening the tax base can potentially balance spending.<\/p>\n","protected":false},"author":2316,"featured_media":183289,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-48581","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"wps_subtitle":"International Monetary Fund claims that political problems in the neighbouring country are affecting Lebanon and notes that revising electricity tariffs and broadening the tax base can potentially balance spending.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/48581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=48581"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/48581\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/183289"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=48581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=48581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=48581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}