Eco Infographics
LEBANON: HOW ARE STRUCTURAL DEFICITS FINANCED ? Published on 20 Dec 2019 by Pascal DEVAUX
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The Lebanese economy suffers from structural deficits, at several levels. The productive base is weak, hence the need for high levels of imports, and fiscal receipts are also limited.

Consequently, twin deficits have been mounting: a current account deficit and a fiscal deficit, both of which need to be financed, thus creating debt. At present, public debt is equal to around 150% of GDP. This is one of the highest levels among emerging economies.

Bank deposits from non-residents, mainly the diaspora, provide the main means of financing this debt. So, as long as these deposits grow slightly faster than the deficits, Lebanon can finance itself and the wheel turns round. However, non-resident deposits have declined in recent months. Therefore resources to finance Lebanese deficits have dried up.

SUSTAINABLE GLOBALISATION Published on 19 Feb 2019 by William DE VIJLDER
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Globalisation has traditionally been considered as an irreversible development underpinned by four key drivers: choices by households and companies; technology, which meant that distance became less and less a hurdle in optimising the business of a company; financial markets, with the opening up of capital accounts; pro-free trade government policies. It has become under pressure in recent years (not everybody has benefitted; impact on the environment; problem of speculative capital flows) so it is necessary to make globalisation sustainable.

Go further : discover the podcast series dedicated to sustainable globalisation.

FRANCE: AN ILLUSTRATION OF THE INTERDEPENDENCE OF REFORMS Published on 5 Nov 2018 by Hélène BAUDCHON
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