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Salameh expects 2% economic slowdown

24-11-2011 | 08:40

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Salameh expects 2% economic slowdown

During the opening of the 2011 Annual Arab Banking Conference, Central Bank Governor Riad Salameh expected that this year economic growth will slow down by 2 %, adding that revolutions and strikes sweeping many countries increase the credit risks.

Salameh added “negative atmospheres were not absent from Lebanon, especially in the first six months of 2011; our markets and economy were affected by the internal political debates and by the rumors that targeted our banks amid the Syrian events.”

Salameh confirmed that the banking sector is not targeted and will not be subject to sanctions in the near future, revealing that assets of Lebanon’s banks are worth 32 billion, which is a historic record.

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