The Association of Banks in Lebanon (ABL) published its economic and financial report for November 2023, in which it reviews financial, banking, economic and monetary developments.
The report shows an increase in private sector deposits in Lebanese pounds with banks to 55.329 billion at the end of November 2023, compared with 50.051 billion at the end of October 2023 (and 45.374 billion pounds at the end of December 2022).
Private sector loans in Lebanese pounds from banks fell to 12.118 billion at the end of November 2023, compared with 12.298 billion at the end of October 2023 and 14.906 billion at the end of December 2022.
Public finances recorded a surplus of 611 billion pounds, after a surplus of 168 billion pounds the previous month and a deficit of 45 billion pounds in December 2020.
At the end of January 2023 (the latest data available), the value of public debt denominated in Lebanese pounds stood at 91.795 billion pounds, an increase of 0.7% compared with the end of December 2022.
The share of banks in the financing of public debt denominated in Lebanese pounds decreased to 16.9% at the end of January 2023 from 17.1% at the end of 2022, and the share of the Banque du Liban also decreased to 62.1% from 63.0%, while the share of the non-banking sector increased to 20.9% from 19.9% due to the increase in subscriptions by public institutions to pound-denominated treasury bills.
It is also reported that the net foreign assets of the banking system and financial institutions increased by around $186 million. This is due to a combined increase in the net assets of Banque du Liban (BDL) of $132 million and in the net assets of banks and financial institutions of $54 million. Net foreign assets had fallen by $81 million by October 2023.
It also shows that the value of merchandise imports amounted to $1,447 million in July 2023 (latest figures available), compared with $1,339 million the previous month and $1,801 million in July 2022. The value of merchandise imports was $9,798 million, down 9.4% on the same period in 2022, while quantities imported fell by 0.8%.
On the export side, in July 2023 (latest figures available), the value of exports stood at $230 million, compared with $197 million the previous month and $228 million in July 2022. The value of merchandise exports fell by 24.2% in 2023 compared with the previous year.
In November 2023, the consumer price index in Lebanon published by the Central Administration of Statistics rose by 2.6% on the previous month and by 211.9% on November 2022.
The value of checks cleared in Lebanese pounds amounted to 5,381 billion pounds, compared with 2,023, 8798 billion pounds the previous month and 4,527 billion pounds in November 2022. It increased by 69.3% during the first eleven months of 2023 compared with the same period in 2022. The value of checks cleared in foreign currencies reached $106 million, down 68% in the first eleven months of 2023 year-on-year.
In the construction sector, building space in November 2023 totaled 603,000 square meters (m²), compared with 497,000 m² the previous month and 791,000 m² in November 2022. Year-on-year, building space thus fell by 45.4% in the first eleven months of 2023.
In November 2023, the total number of flights to and from Beirut International Airport (AIB) was 3,008; the number of arriving passengers was 151,846; and the number of departures was 171,561. In terms of cargo traffic through the airport during the aforementioned month, the volume of goods unloaded amounted to 2,981 tonnes, compared with 2,144 tonnes for goods shipped.
The report shows an increase in private sector deposits in Lebanese pounds with banks to 55.329 billion at the end of November 2023, compared with 50.051 billion at the end of October 2023 (and 45.374 billion pounds at the end of December 2022).
Private sector loans in Lebanese pounds from banks fell to 12.118 billion at the end of November 2023, compared with 12.298 billion at the end of October 2023 and 14.906 billion at the end of December 2022.
Public finances recorded a surplus of 611 billion pounds, after a surplus of 168 billion pounds the previous month and a deficit of 45 billion pounds in December 2020.
At the end of January 2023 (the latest data available), the value of public debt denominated in Lebanese pounds stood at 91.795 billion pounds, an increase of 0.7% compared with the end of December 2022.
The share of banks in the financing of public debt denominated in Lebanese pounds decreased to 16.9% at the end of January 2023 from 17.1% at the end of 2022, and the share of the Banque du Liban also decreased to 62.1% from 63.0%, while the share of the non-banking sector increased to 20.9% from 19.9% due to the increase in subscriptions by public institutions to pound-denominated treasury bills.
It is also reported that the net foreign assets of the banking system and financial institutions increased by around $186 million. This is due to a combined increase in the net assets of Banque du Liban (BDL) of $132 million and in the net assets of banks and financial institutions of $54 million. Net foreign assets had fallen by $81 million by October 2023.
It also shows that the value of merchandise imports amounted to $1,447 million in July 2023 (latest figures available), compared with $1,339 million the previous month and $1,801 million in July 2022. The value of merchandise imports was $9,798 million, down 9.4% on the same period in 2022, while quantities imported fell by 0.8%.
On the export side, in July 2023 (latest figures available), the value of exports stood at $230 million, compared with $197 million the previous month and $228 million in July 2022. The value of merchandise exports fell by 24.2% in 2023 compared with the previous year.
In November 2023, the consumer price index in Lebanon published by the Central Administration of Statistics rose by 2.6% on the previous month and by 211.9% on November 2022.
The value of checks cleared in Lebanese pounds amounted to 5,381 billion pounds, compared with 2,023, 8798 billion pounds the previous month and 4,527 billion pounds in November 2022. It increased by 69.3% during the first eleven months of 2023 compared with the same period in 2022. The value of checks cleared in foreign currencies reached $106 million, down 68% in the first eleven months of 2023 year-on-year.
In the construction sector, building space in November 2023 totaled 603,000 square meters (m²), compared with 497,000 m² the previous month and 791,000 m² in November 2022. Year-on-year, building space thus fell by 45.4% in the first eleven months of 2023.
In November 2023, the total number of flights to and from Beirut International Airport (AIB) was 3,008; the number of arriving passengers was 151,846; and the number of departures was 171,561. In terms of cargo traffic through the airport during the aforementioned month, the volume of goods unloaded amounted to 2,981 tonnes, compared with 2,144 tonnes for goods shipped.
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