The building housing Audi Bank in downtown Beirut, Monday, Nov. 13, 2017. (The Daily Star/Hasan Shaaban)
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Bank Audi estimated that Lebanon will generate over $200 billion in net revenues from the promising offshore gas exploration, an income which would drastically reduce the public debt and stimulate the economy.This estimation was part of Bank Audi's fourth quarter report on Lebanon that covered the main economic activities for the entire 2017 .Oil experts stress that it is too early to project the potential revenues from gas and oil exploration which should start in 2019 if everything went according to plan.Audi stressed that the windfall revenues from oil and gas in the future would dramatically change the face of Lebanon.It also underlined the importance of setting up the sovereign wealth fund to manage the revenues from oil and gas exploration.
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