BEIRUT: The Economist Intelligence Unit projected economic growth in Lebanon at 3.4 percent in 2012, higher than the estimated growth rate of 1.5 percent in 2011, but still below the average growth rate of 8.1 percent recorded between 2007 and 2010.
It said that Lebanon’s growth prospects in the coming year would depend on regional developments, as Lebanon’s service-oriented economy relies on demand from Arab countries, mainly from the economies of the Gulf Cooperation Council.
According to the EIU the unrest that engulfed the region this year, along with domestic political instability in the first half of 2011, had a sharp impact on economic activity throughout the year. It expected any economic recovery in 2012 to be limited by the serious downside risks from the continued unrest in Syria, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.
For more, please see this: http://www.dailystar.com.lb/Business/Lebanon/2011/Dec-23/157709-lebanon-growth-hinges-on-regional-developments.ashx#axzz1hL3IuTvl