Suleiman Hails Lebanese Economy’s Ability to Withstand Financial Crisis
President Michel Suleiman stressed on Wednesday that the Lebanese economy was able to withstand the world financial crisis as the region suffered from a political unrest.
He said during the opening of the businessmen forum in Romania that Lebanon’s economy had attracted investments that mounted to $4 billion.
Suleiman noted that Lebanon will be able to play a wider role amid the democratic wave that is hitting the region.
The president arrived in Romania at the head of a ministerial delegation on Monday. He is later expected to head to the Czech Republic.
He stated that Lebanese authorities are keen to remove all the obstacles that are hindering the improvement of Lebanese-Romanian bilateral relations.
“We will work on activating the business between the two countries,” he said.
Lebanon's ratio of debt to GDP is one of the highest in the world. According to the IMF's latest estimate, debt stood at 134 percent of GDP last year, down from 137 percent in 2010 and 146 percent in 2009.
In October, the International Monetary Fund warned that the Lebanese economy is at risk from internal political uncertainty, spiraling violence in neighboring Syria and the Eurozone crisis.
However, the IMF said that GDP growth in Lebanon would recover slightly this year, with expansion of 3.5 percent.
Source: Agence France Presse
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