Central Bank to inject another $1 billion stimulus. New modified package will be launched next week. News from Lebanon

Next week the Central Bank (BDL) is scheduled to launch a new stimulus package of around $1 billion to subsidize housing loans and loans provided to the productive sectors, according to Wael Hamdan, Head of BDL’s Financing Unit.

There will b….
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Public entities to cut spending by 20 percent. Wages and related costs are excluded. News from Lebanon

The Prime Minister has instructed all state departments, public institutions, and other entities financed through the public budget to reduce their cost projections for the draft budget of 2018 by 20 percent.

The decision is part of the gover….
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Inflation up 4.5 percent. Driven by commodity prices, higher euro. News from Lebanon

The annual inflation proxy rate increased to 4.48 percent in 2017 from -0.82 percent in the previous year, according to the Central Administration of Statistics (CAS).

The Consumer Price Index (CPI) rose five percent in December compared with….
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IFC funds EIP $60 million for SMEs. To invest in 18 industrial, agriculture and trade sector companies. News from Lebanon

The EIP Levant Fund, which was established and is managed by Emerging Investment Partners (EIP), a Beirut-based private equity fund management company, has received commitments to become shareholders in its capital from the International Finance Cor….
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Banks required to submit strategic plans. To be submitted regularly to Banking Control Commission. News from Lebanon

The Central Bank’s Banking Control Commission (BCCL) has asked all banks to prepare strategic plans and related action plans, according to BCCL’s circular no 292.

The banks must update these plans at least once a year and when needed. They sh….
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