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Lebanon Economy Plagued by Problems, According to UN Report |
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Thursday, 2 February 2012A report by the UN Economic and Social Commission for Western Asia has said layoffs, slumping tourism, falling construction activity and declining remittances from Lebanese expatriates have marred the performance of the economy of Lebanon in 2011, The Daily Star has reported. "[This was] a result of the halving of outward investments and a substantial drop in portfolio investments in the country," the report said. At the same time, remittances sent home by Lebanese expatriates shrank significantly, the report said. "After peaking at $7.5bn in 2009, remittances inflows to Lebanon declined to $5.1bn in 2010," it said.
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Thursday, 2 February 2012
AME info
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