Salameh says the Central Bank is trying to boost local demand to make up for shrinking external demand.
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. (http://bit.ly/vDisqus)
If the international price of oil remains low, Lebanon will be saving up to $1.5 billion on its energy bill annually, Central Bank Governor Riad Salameh said at a conference held Tuesday.The International Monetary Fund has warned Lebanon that it should not count on the drop of oil prices, urging the government to reduce subsidies to the electricity sector.Salameh said that Lebanon was also positively impacted by the fall of the euro. Salameh's remarks came during the Euromoney Lebanon Conference held at the Four Seasons Hotel with the aim of discussing the financing of startups, focusing especially on technology companies. Salameh added that the Central Bank has also been very active in financing Lebanese startups.Ajaka emphasized the important role that technology plays in delivering financial services.Ajaka, who was representing Economy Minister Alain Hakim, praised the banking sector in Lebanon saying that it is profitable and highly liquid. However, he emphasized the need for banks to further finance sectors of the economy that rely mainly on technology.
Hajj Hasan says Syria trip aims to boost trade
BLOM boss: Don’t overload Central Bank
Economists urge government to reduce deficit
FOLLOW THIS ARTICLE