The Ministry of Economy and Trade released last week with the collaboration of the French Institute of Statistics and Economic Studies (INSEE) Lebanon’s “Economic Accounts” for 2005. According to the publication, the year 2005 was marked by a moderate economic growth and a moderate increase in prices owing to the increase in private investments and exports as well as the introduction of fiscal reforms.
Credit Libanais’ Financial Performance In The Third Quarter of 2007
In the Lebanese banking sector, Credit Libanais released its third quarter unaudited financial statements unveiling a healthy 9.12% annual increase in total assets to $3.61 billion as at end of September 2007.
Tax Free Shopping
The Global Refund on Tax Free shopping report revealed a 14% yearto- date expansion in Lebanon’s Tax free spending through October 2007.
Morocco’s Budget Deficit
The Moroccan government is expecting the budget deficit to widen to 3% in 2008, up from an estimated 1.9% in 2007. Morocco’s Finance Minister pointed that the government is planning to increase the total spending by 15.8% to 179.4 billion dirhams ($23.23 billion) in an attempt to alleviate the poverty rate.
Trade Gap in September 2007
The U.S. Department of Commerce reported a 0.52% contraction in its September’s 2007 balance of trade deficit to $56.5 billion down from $56.8 billion in the preceding month.
