World Bank revises downward Lebanon’s GDP

World Bank (WB) revised downward its forecast for Lebanon’s GDP in 2013 to 0.7 percent.
Two months ago, it said growth would reach 1.5 percent, down from two percent in June 2013.

According to WB, economic growth between 2000 and 2009 had an average of 4.4 percent, before climbing to seven percent in 2010, dropping to three percent in 2011, and 4.2 percent in 2013.

Forecasts are based on the extent of improvement of the local and regional political and security situation.

WB expects two percent growth in 2014, 2.7 percent in 2015, and 4.2 percent in 2016.