NNA - Lebanon Central Bank governor Riad Salameh spoke Friday during the Annual Arab Banking Conference 2012 held at Phoenicia hotel in the presence of Prime Minister Najib Mikati. Salameh went over latest economic affairs in light of the current Arab conditions, praising herein the role of the Arab banking union and affirming that tools are available to guarantee better growth results.



Salameh listed the many reasons causing concern on the future of the economic and financial sectors at a global level, and more precisely in the region. Among those reasons are the European sovereign debts crisis, the recession in the European continent, the US attempt, once again, to raise the debt ceiling, the growth fall back in many developing countries, and the absence of foreign currency reserve in non-oil producing countries.



The BDL Governor assured that despite the aforementioned threats "Lebanon is capable of achieving the 2% expected growth for this year. It is preserving its financial capacities that enable it to fulfill its needs."



==========D.K.