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World Bank urges release of public budgetNow that a new Lebanese president has been elected, public institutions should assume their proper roles and the government must move forward with the budget, recommended World Bank Director for the Middle East Ferid Belhadj. World Bank economist Wissam Harake said that the election of a Lebanese president constitutes a very strong signal and the formation of a new government will have a positive impact on Lebanon's economic outlook.Harake said that the World Bank projects real GDP growth to stand at 2.2 percent in 2017 compared to 1.8 percent in 2016 .The World Bank economist gave a few figures about the 2016 economy in Lebanon saying that it had picked up in the first half of 2016 . The principle driver for this improvement, according to Harake, was the rebound in construction sector.
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