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Lebanon's economy grew more than three per cent, minister says

Other News Materials 24 February 2008 19:05 (UTC +04:00)

( dpa ) - Lebanon's Finance minister Jihad Azour said Sunday Lebanon's economy grew more than three per cent in 2007, despite political crisis.

Azour told Voice of Lebanon radio the economy had achieved growth and "that is going to be more than three per cent in 2007" although it was "greatly less than what we were aiming at."

Lebanon's political crisis has paralyzed much of government since November 2006 and left the country without a president since November 23, 2007.

The country's anti-Syrian governing coalition is currently locked in a power struggle with the opposition, led by Hezbollah which is backed by Syria and Iran.

Central Bank governor Riad Salameh expected earlier this month that inflation this year should not exceed the five per cent of last year and forecast stable interest rates which may fall if the country's political crisis eases.

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