Lebanon’s Economy Is Withstanding Political Chaos, Salameh Says
- Central bank governor says reserves at record high $40 billion
- Growth expected to remain stable at 1.5 to 2 percent this year
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Lebanon’s economy remains resilient despite the political instability that has prevented the election of a president for more than two years, according to central bank Governor Riad Salameh.
“We’re doing fine,” Salameh said in a telephone interview on Thursday, adding that measures taken this year to boost liquidity have put the economy in position to withstand challenges that include regional conflict and a barely functioning government. Foreign reserves are at a record high over $40 billion, the currency is stable and liquidity is adequate, he said. Growth will range between 1.5 to 2 percent this year, maintaining the 2015 pace.