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Wazni: Lebanon’s GDP could slip by 12 percent in 2020

Osama Habib- Lebanon’s Finance Minister Ghazi Wazni warned that the country’s GDP could drop by 12 percent in 2020 due to the deteriorating conditions. “In 2020, real GDP could contract further by 12 percent as the dollar shortage puts a massive drag on nonfuel imports and could be worsened with the additional impact of the coronavirus outbreak,” Wazni said in his presentation to investors and bond holders on March 27. The minister presented a 27-page powerpoint illustrated with elaborate charts and tables to the investment companies holding part of the country’s Eurobonds in a bid to persuade them that Lebanon could not afford to keep financing the public debt, which has reached 178 percent of the GDP
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