Balance of payments deficit down 4.4 percent

BEIRUT: Lebanon’s balance of payments recorded a deficit of $997.6 million in the first five months of 2012, 4.4 percent smaller than the deficit registered during the same period last year, according to data released by the Central Bank. Outflows of net foreign assets for the second consecutive year reflect the slow-recovering confidence of investors and tourists in Lebanon, amid the region’s current political conditions. Capital inflows from foreign investment and services usually more than cover the trade deficit, which is the item that is most responsible for foreign currency outflows. In contrast, the balance of payments had recorded surpluses of $1.66 billion and $1.21 billion in the same period of 2009 and 2010 respectively. Up to May 2012, NFA of it rose by $896 million while NFA of commercial banks dropped $1.89 billion. In May alone, the balance of payments was in deficit $81.5 million, substantially lower than the $445.2 million deficit seen in May 2011.

A version of this article appeared in the print edition of The Daily Star on July 10, 2012, on page 5.




Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (

comments powered by Disqus



Interested in knowing more about this story?

Click here