Salameh: Lebanon should cut debt ratio this year

Lebanon’s fourth year of strong economic growth should reduce public debt to 139 percent of gross domestic product from about 147 percent, Central Bank Governor Riad Salameh said.

Salameh, speaking in an interview in Beirut today, reiterated that he expects growth of about 8 percent this year.

“Our main focus is going to be on getting the government to reduce” the country’s debt, of which 60 percent is held in Lebanese pounds and 40 percent in dollars, he said. (more…)

Lebanese Economic Tag Team Of El Hassan And Salameh: Can They Ever Be Candid?

By Ghassan Karam
Arguably one of the most productive and positive attribute of a free democratic society is the free exchange of ideas that it promotes.

The Lebanese pound will be stable in 2010, banking system is safe

Riad Salameh , Central Bank Governor told OTV on Tuesday that Lebanon can take advantage of the increase in the price of gold, adding that the Lebanese currency will be stable in 2010 and that the country’s banking system is safe from any problems in the near future.
Salameh said the Central Bank achieved economic growth as a result of the Lebanese currency’s stability.

Salameh: The real growth in Lebanon is 7% & GDP $33 billion

Lebanon’s Central Bank governor Riad Salameh said the gross national product amounted to 33 billion dollars, stressing that Lebanon will not be affected by the Dubai financial crises . He pointed out that the real growth in Lebanon has reached 7% and inflation rate is expected to be 3% and thus, which means the overall growth will be 10% resulting in a GDP equal of $ 33 billion.

Salameh pointed out that gold assets are included in the budget of the Central Bank of Lebanon and as the price of gold rises the confidence in the national currency will increase . He stressed that political stability and security are essential in limiting the risks and strengthening the confidence in the economy