The latest statistics on financial inflows revealed that they increased by 14.6% annually during the first eight months of 2012, maintaining a slower momentum since the first five months of this year, along with the announcement of GCC governments dissuading their nationals from visiting the country.
Financial inflows amounted to US$ 9,736.6 million during the first eight months of 2012, compared with US$ 8,492.7 million during the first eight months of 2011.
Capital flowing into Lebanon can take several forms, ranging from non-resident deposit inflows, to inward remittances, cash transfers from tourists and FDI inflows. Non-resident deposits went up by US$ 1,592 million during the eight seven months of this year, a slower rise compared to that recorded in the same period of 2011.
With regards to remittances, no data has been published but they should sustain a sufficient growth as the regional and local political dust settles and confidence in the banking sector remains unscathed. As to the cash transfers from tourists, they were obviously affected by the weaker arrivals of foreigners thus weighing down on expenditures.
Lebanon Weekly Monitor – Bank Audi Research
16 October
