Publication:
Lebanon Economic Monitor, Spring 2013: Growing Tensions in a Resilient Economy

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dc.contributor.authorWorld Bank
dc.date.accessioned2015-05-21T17:08:19Z
dc.date.available2015-05-21T17:08:19Z
dc.date.issued2013-04
dc.description.abstractThe Lebanon Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Lebanon. The political standoff combined with an escalating Syrian conflict hampered growth in 2012, and is projected to continue doing so through the first half of 2013. Economic growth in 2012 is estimated to have decelerated to 1.4 percent due to a weak second half of 2012 following a downturn in the security situation. The major fiscal expansion that took place in 2012 is creating fiscal challenges for 2013, particularly in the context of a promised increase in public salaries. The fiscal expansion, measured by the change in the central government s primary fiscal balance, reached a staggering 4.6 percentage points of GDP in 2012. The overall fiscal deficit reached 9.4 percent of GDP in 2012. Inflationary pressures rose despite tepid economic activity. Headline inflation accelerated notably in the second half of 2012. Core inflation has also been on an upward trend, reaching 5.3 percent by end-2012. Domestically, inflationary pressures can primarily be attributed to (i) increases in disposable income in early 2012 due to the increase in the minimum wage and public sector salaries cost of living adjustment; and (ii) a cumulative output gap that remains positive following above-potential growth in 2007-2010. The conflict in Syria, a country that is closely linked, both through historical, social and economic ties to Lebanon has created a humanitarian crisis of enormous scale. While Lebanon is to be commended for its openness to Syrian refugees, the conflict is severely and negatively impacting the Lebanese economy. The largest impact arises through the insecurity and uncertainty spillovers and touches at the heart of Lebanon s societal fabric.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/04/24412470/lebanon-economic-monitor-april-2013-growing-tensions-resilient-economy
dc.identifier.doi10.1596/21967
dc.identifier.urihttps://hdl.handle.net/10986/21967
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.relation.ispartofseriesLebanon Economic Monitor;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING FRAMEWORK
dc.subjectAGGREGATE DEMAND
dc.subjectAGRICULTURE
dc.subjectANNUAL GROWTH
dc.subjectARREARS
dc.subjectASSETS
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE OF PAYMENTS DEFICIT
dc.subjectBALANCE SHEETS
dc.subjectBANK LENDING
dc.subjectBANK LOANS
dc.subjectBANKING SECTOR
dc.subjectBANQUE DU LIBAN
dc.subjectBASIS POINT
dc.subjectBASIS POINTS
dc.subjectBENEFICIARIES
dc.subjectBILL
dc.subjectBOND MARKET
dc.subjectBOND YIELDS
dc.subjectBUDGET DEFICIT
dc.subjectBUFFERS
dc.subjectBUSINESS CONFIDENCE
dc.subjectCAPITAL GAINS
dc.subjectCAPITAL INFLOWS
dc.subjectCASH PAYMENT
dc.subjectCENTRAL BANK
dc.subjectCHECKS
dc.subjectCIVIL SERVICE
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVENESS
dc.subjectCONFIDENCE INDEX
dc.subjectCONSOLIDATION
dc.subjectCONSUMER CONFIDENCE
dc.subjectCONSUMERS
dc.subjectCONSUMPTION DEMANDS
dc.subjectCORE INFLATION
dc.subjectCORPORATE PROFITS
dc.subjectCOST OF IMPORTS
dc.subjectCOST OF LIVING
dc.subjectCOUNTRY DEBT
dc.subjectCREDIT RATING
dc.subjectCREDIT RISK
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectDEBT RATIO
dc.subjectDEBT REDUCTION
dc.subjectDEBT SERVICE
dc.subjectDEBT STOCK
dc.subjectDEBT STRUCTURE
dc.subjectDEFICITS
dc.subjectDEPOSIT
dc.subjectDEPOSITS
dc.subjectDERIVATIVES
dc.subjectDISBURSEMENTS
dc.subjectDISPOSABLE INCOME
dc.subjectDISTORTIONS
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC ECONOMIC ACTIVITY
dc.subjectDOMESTIC INFLATION
dc.subjectDOMESTIC INTEREST RATES
dc.subjectDOMESTIC PRICES
dc.subjectDOWNWARD PRESSURE
dc.subjectECONOMIC DEMAND
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC SLOWDOWN
dc.subjectEDUCATION SYSTEM
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET COUNTRIES
dc.subjectEMERGING MARKETS
dc.subjectENABLING ENVIRONMENT
dc.subjectENTREPRENEURSHIP
dc.subjectEUROBOND
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE RISK
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORTERS
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL FACTORS
dc.subjectEXTERNAL INDEBTEDNESS
dc.subjectFINANCIAL ASSISTANCE
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKET PARTICIPANTS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SUPPORT
dc.subjectFISCAL BALANCE
dc.subjectFISCAL BURDEN
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN INFLOWS
dc.subjectGDP
dc.subjectGOVERNMENT DEFICIT
dc.subjectGOVERNMENT SPENDING
dc.subjectGROWTH PERFORMANCE
dc.subjectGROWTH RATE
dc.subjectHOUSEHOLDS
dc.subjectHOUSING
dc.subjectHUMAN CAPITAL
dc.subjectIMPORT
dc.subjectIMPORT GROWTH
dc.subjectIMPORTS
dc.subjectINCOME GROUPS
dc.subjectINCOME TAX
dc.subjectINCOME TAXES
dc.subjectINFLATION
dc.subjectINFLATION EXPECTATIONS
dc.subjectINFLATION RATE
dc.subjectINFLATION RATES
dc.subjectINFLATIONARY PRESSURES
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectINSURANCE
dc.subjectINTEREST INCOME
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE PAYMENTS
dc.subjectINTEREST RATE SPREADS
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL INTEREST
dc.subjectINTERNATIONAL INTEREST RATES
dc.subjectINTERNATIONAL PRICES
dc.subjectINTERNATIONAL RESERVES
dc.subjectINVENTORIES
dc.subjectINVENTORY
dc.subjectINVESTMENT DECISION
dc.subjectINVESTOR CONFIDENCE
dc.subjectJOB CREATION
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLABOR MOBILITY
dc.subjectLAWS
dc.subjectLIQUIDITY
dc.subjectLIVING ADJUSTMENT
dc.subjectLOCAL BUSINESSES
dc.subjectLONG-TERM EXTERNAL DEBT
dc.subjectM3
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET CAPITALIZATION
dc.subjectMARKET ENTRY
dc.subjectMARKET SHARE
dc.subjectMARKET YIELDS
dc.subjectMATURITIES
dc.subjectMIGRATION
dc.subjectMINIMUM WAGE
dc.subjectMONETARY POLICY
dc.subjectMONEY SUPPLY
dc.subjectMULTIPLIERS
dc.subjectNATIONAL INCOME
dc.subjectNET EXPORTS
dc.subjectNOMINAL WAGES
dc.subjectOUTPUT GAP
dc.subjectPEG
dc.subjectPENSION
dc.subjectPENSION REFORMS
dc.subjectPENSION SYSTEM
dc.subjectPENSIONS
dc.subjectPLEDGES
dc.subjectPOLICY RESPONSES
dc.subjectPOLITICAL INSTABILITY
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE INDEX
dc.subjectPRIVATE BANKS
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTORS
dc.subjectPRIVATE SECTOR CREDIT
dc.subjectPRODUCTION DISRUPTIONS
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SERVICES
dc.subjectPURCHASING POWER
dc.subjectRE-EXPORTS
dc.subjectREAL ESTATE
dc.subjectREAL GDP
dc.subjectRECEIPTS
dc.subjectREFUGEE
dc.subjectREFUGEES
dc.subjectREGISTRATION FEES
dc.subjectREMITTANCES
dc.subjectRESERVE ACCUMULATION
dc.subjectRETURN
dc.subjectRISK EXPOSURE
dc.subjectRISK PERCEPTIONS
dc.subjectSAFETY NET
dc.subjectSAFETY NETS
dc.subjectSAVINGS
dc.subjectSHORT-TERM CAPITAL
dc.subjectSHORT-TERM EXTERNAL DEBT
dc.subjectSLOW GROWTH
dc.subjectSLOWDOWN
dc.subjectSOCIAL INSURANCE SYSTEM
dc.subjectSOCIAL NETWORKS
dc.subjectSOCIAL SAFETY NETS
dc.subjectSPARE CAPACITY
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKET
dc.subjectSTRUCTURAL REFORMS
dc.subjectSUPPLY DISRUPTIONS
dc.subjectSUPPLY SIDE
dc.subjectSURPLUS
dc.subjectT-BOND
dc.subjectTAX
dc.subjectTAX REVENUES
dc.subjectTAX SYSTEM
dc.subjectTOTAL DEPOSITS
dc.subjectTOTAL EXPORTS
dc.subjectTOTAL EXTERNAL DEBT
dc.subjectTOTAL IMPORT
dc.subjectTOTAL REVENUE
dc.subjectTRADE BALANCE
dc.subjectTRADE DEFICIT
dc.subjectTRADE UNIONS
dc.subjectTRADING
dc.subjectTRANSPORT
dc.subjectTREASURY
dc.subjectTREASURY BONDS
dc.subjectTUITION
dc.subjectUNCERTAINTY
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATES
dc.subjectUPWARD PRESSURE
dc.subjectWEIGHTS
dc.subjectYIELD CURVE
dc.subjectYIELD SPREAD
dc.titleLebanon Economic Monitor, Spring 2013en
dc.title.subtitleGrowing Tensions in a Resilient Economyen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2015-04-22
okr.date.doiregistration2025-05-07T12:02:06.339263Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/2013/04/24412470/lebanon-economic-monitor-april-2013-growing-tensions-resilient-economy
okr.globalpracticeMacroeconomics and Fiscal Management
okr.guid412871468263709395
okr.identifier.externaldocumentum000477144_20150422124108
okr.identifier.internaldocumentum24412470
okr.identifier.report95952
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/04/22/090224b082df9564/_/Rendered/PDF/959520WP0Box3900monitor0spring02013.pdfen
okr.region.administrativeMiddle East and North Africa
okr.region.countryLebanon
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicBanks Banking Reform
okr.topicEconomic Theory Research
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicMacroeconomics and Economic Growth
okr.unitMacro Fiscal Mgmt - GP (GMFDR)
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