selected business news
"IMF raises projections for Lebanese economic growth"
Posted August 12, 2010 by Lindsay Roberts
By: Simona Sikimic, The Daily Star
According to a report released by the Oxford Business Group (OBG), Lebanon’s property sector appears "resilient" to property bubbles. In the first quarter of 2010, the sector showed 41% growth compared to the same period in 2009. The International Monetary Fund (IMF) now projects the real estate sector will rise to 8% of Lebanon’s GDP, in contrast to the original forecast of 6%. The report also applauded the “excellent performance” of Lebanon’s banking sector which experienced growth in profits and deposit levels throughout the global economic crisis and despite political instability.
