Economic Overview Lebanon

Abstract

Since October 17, 2019, thousands of Lebanese all over Lebanon flood the streets furious with the economy collapse and requesting “all government parties out.” The anti-government protest, or what is called “October Revolution” is the largest since almost 15 years, with no support of any political party. The October 17 Revolution did not start out of the blue, Lebanon had been facing dramatic economic drawbacks from 2009, where GDP growth reached 10.1% at the mentioned year and started to decline ever since to 0.2% in 2019 (Blominvest Bank, 2018). According to the Central Intelligence Agency 2017, Lebanon ranked the 3rd highest country with Debt to GDP ratio as it recorded 152.8%, this ratio compares country’s public debt to its Gross Domestic Product (GDP).

Keywords: Lebanon, economy, revolution, debt, economic crisis

JEL Classification: A10, O53, N85