Beirut central bank. (The Daily Star/Mohammad Azakir)
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International rating agency Standard & Poor's maintained its negative outlook of Lebanon, an indication that the country is yet to overcome its economic and political problems.It forecast bank deposits to grow by 4 percent in 2016, which is equivalent to about 12 percent of GDP.S&P projected the government's gross borrowing requirements at about 26 percent of GDP in 2016 .Further, it indicated that the financial system has been crucial to meet the country's overall external financing requirement that it forecast at $46 billion or 88 percent of GDP in 2016 . It projected the fiscal deficit of 8.7 percent of GDP in 2016 compared to a deficit of 8.1 percent of GDP in 2015, as it considered that public finances and fiscal flexibility will remain constrained by structural expenditures.
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