The Association of Lebanese Banks recently released its monthly report on economic, financial, and banking developments for April 2024. According to the report, Lebanon’s public finances showed a surplus of 611 billion pounds in December 2021, following a surplus of 168 billion pounds in the previous month. This marked a significant improvement from the deficit of 45 billion pounds recorded in December 2020.
Despite this positive news, Lebanon’s public debt denominated in Lebanese pounds continued to increase by 0.7% to 91,795 billion pounds compared to the previous month. Private sector deposits in Lebanese pounds with banks also saw an increase, reaching 56,213 billion pounds by the end of April 2024. However, private sector deposits in foreign currencies at banks experienced a slight decline, totaling approximately $90.05 billion at the end of April 2024.
On the other hand, loans to the private sector in Lebanese pounds decreased to 10,356 billion pounds by the end of April 2024 compared to 10,754 billion pounds in March 2024 and 11,388 billion pounds in December
