REPORT: Salameh says the Lebanese situation is stable

The governor of Banque Du Liban Riad Salameh said on Friday that the year 2012 was less productive than expected seemingly since the actual growth was around 2% and pointed out that the decline in indicators started in May due to political and security reasons.                         


Salameh said to LBCI that despite the surrounding crisis, Lebanon's situation is still better than other countries because it was able to maintain the confidence and still has the funding potential to meet with the needs of the public and private sectors.                                  


Salameh pointed out that deposits increased by 7% and the portfolio of the Lebanese bank increased by almost $ US 2 Billion and mentioned that the country was able to fund itself from its markets.                                   

The governor of Banque Du Liban proposed an initiative whereby the central bank puts at the disposal of banks the equivalent of two thousand billion LBP with an interest rate of one percent and sets their point of use for loans, residential projects and alternative energy projects.                                 

Salameh mentioned that this initiative would stimulate the growth, and help pass this period.                 

Salameh concluded by saying that it is important to adopt the budget at the parliament for it is an international requirement.