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11-05-14

Lebanon's economy to grow 2 percent

(MENAFN) Economy of Lebanon is expected to grow by 2 percent this year and a "modest 4 percent over the medium term," according to the International Monetary Fund (IMF) forecasts, Gulf Daily News repoted. The IMF also said in a report that Lebanon should "urgently strengthen policies" and its fiscal priority should be to "put public debt on a sustainable downward path". Political instability has negatively affected action needed to tackle Lebanon's financial problems. Public sector wage strikes and widespread power cuts continue in Lebanon, causing further strain on government spending.