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Lebanon's economy grew by 2% in 2022: Salameh

Lebanon Economy

10-02-2023 | 11:33

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Lebanon's economy grew by 2% in 2022: Salameh

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In an interview with Asharq News, Banque du Liban's (BDL) Governor Riad Salameh confirmed that the BDL returned all the banks' funds in dollars, in addition to another amount worth $30 billion, between 2017 and 2022.

Salameh voiced that the successive political crises impede the solutions to the banking crisis, stating that the Central Bank is legally unable to solve the financial problem.

He added that the Lebanese government's reluctance to pay sovereign bonds had weakened the Lebanese lira.

Riad Salameh confirmed during the interview that the private sector has caused Lebanese banks to lose about $35 billion.

Governor Salameh explained that there is no plan for total dollarization of the Lebanese economy, saying that before the crisis in 2019, the Lebanese economy was already dollarized.

"I checked all my accounts related to the legal cases brought against me, which has nothing to do with reality," Salameh claimed.

Salameh also noted that Lebanon's economy grew by 2% in 2022, adding that it would have been much better if all the constitutional institutions could function.

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