bank audi issues positive midyear report
Last Updated : GMT 19:04:41
Arab Today, arab today
Arab Today, arab today

Bank Audi issues positive midyear report

Arab Today, arab today

Arab Today, arab today Bank Audi issues positive midyear report

Beirut - Arabstoday

Bank Audi said that despite the economic slowdown in Lebanon this year the country was still able to avoid a recessionary trap thanks to positive monetary and financial indicators. “Most real sector indicators show the economy has slowed down but still managed to avoid a recessionary trap or negative real GDP growth rates while sustaining monetary and financial stability indicators,” Audi said in its half year report on the performance of the Lebanese economy. A moderate expansion in money supply, net currency conversions in favor of the Lebanese pound and a new record high level of the Central Bank’s foreign assets marked the first half of 2012, the report said. Inflation remained contained at an annual average of 5.1 percent over the first half. “ Driven by [USD to LL] conversions and a $2 billion swap operation, the Central Bank’s foreign assets reached a new record high of $35.2 billion at end-June 2012, thus covering 85.5 percent of Lebanese pound money supply and 19.3 months of imports at end-June 2012,” Audi said. Audi added that the overall performance of the Lebanese banking sector was relatively acceptable despite the economic conditions in the country. “Banking indicators saw a relatively moderate growth year-to-date,” the report said. Total assets grew by $5.3 billion in the first half of this year, which was still 18.2 percent lower than the increase witnessed in the same period last year; and growth is 15.1 percent below the average growth registered over the last five years. “Still, operating conditions continue to be tough amid pressures on spreads and fee income, with domestic net profits reporting a net contraction of 3.9 percent over the first five months of 2012, the second consecutive earnings contraction for Lebanon’s banking sector at large,” the report said. Audi also commented on the 2012 budget. “The government ratification of Lebanon’s 2012 budget proposal comes within a current global atypical environment where public debt and deficit woes rise on the top of the radar screens of investors around the world,” the bank said. “Which makes the issue of avoiding public finance drifts among top domestic priorities, despite some atypical economic and market conditions related to the Lebanese context per se,” Audi said. Though Lebanon’s public finance deficit must be curbed, global comparisons should be considered when addressing Lebanon’s public finances and its fiscal drifts. Lebanon’s “debt-to-GDP ratio, which was as high as 180 percent in 2006, stands now at around 135 percent. This improvement in Lebanon’s debt ratios compares with a net deterioration worldwide in debt ratios, as the average advanced countries debt-to-GDP ratio rose by more than 30 percent over the same period,” according to the report. From DailyStar

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bank audi issues positive midyear report bank audi issues positive midyear report

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bank audi issues positive midyear report bank audi issues positive midyear report

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday