NEWS / Foreign Exchange

Credit Suisse's Forecast For Lebanon

Credit Suisse revealed in its latest economic publication that Lebanon's consensus economic growth will be the lowest among 15 other countries in Emerging Europe Middle East & Africa (EMEA) for 2007 and the second lowest for 2008. Credit Suisse expects Lebanon's real GDP growth to stand at 0.5% and 3% for 2007 and 2008 respectively.

Economic Developments In the Third Quarter of 2007

According to the third Paris III progress report released by the Lebanese Ministry of Finance last week portraying the performance of the Lebanese economy in the third quarter of the year 2007, total agreements signed with international donors until September 21, 2007 have reached $3.35 billion out of $7.61 billion of total pledges secured in aftermath of the Paris III Summit.

Ministry of Finance publishes Fiscal Accounts for the period 1993-2006

According to a press conference last week initiated by the Lebanese Prime Minister and Finance Minster, the Lebanese Ministry of Finance published for the first time detailed budget figures for the period 1993 to 2006 on the Ministry's web-site in an attempt to increase the level of public awareness and transparency.

Egypt??™s Inflation Rises to 9.3%

According to the Egyptian government statistics, Egypt??™s inflation rose to 9.3% in the first nine months of 2007 compared to 8.5% in the first eight months of the year.

Housing Starts In September 2007

The U.S. Department of Commerce commented on some 7.3% contraction in construction permits in September 2007 to a seasonally adjusted annual rate of 1.23 million units.