Lebanon: Economy Under Pressure from Public Spending
The World Bank argues that countries with high levels of indebtedness, particularity Lebanon, remain significantly vulnerable because they have relatively high external financing needs and large current account deficits.
The interview with H.E. Nicolas Nahas, Minister of Economy and Trade of Lebanon, took place on May 14, 2012 (prior to the clashes in Tripoli).
The World Bank argues that countries with high levels of indebtedness, particularity Lebanon, remain significantly vulnerable because they have relatively high external financing needs and large current account deficits. According to the World Bank, the fiscal deficit will widen in 2012 compared to 2011 because of a sizable rise in public wages.
One of the major concerns for Lebanon is public spending.