Subsidized housing loans funded from 2019 budget. Approvals were halted after all funds were deployed

The Central Bank will increase the number of housing loans that will benefit from the interest rate subsidy.

The total amount earmarked for housing loan subsidies for 2018 has been completely used up in just one month due to a large number of loan applications that have been rolled over from last year's excess demand.

Riad Salameh, the Governor of the Central Bank (BDL), said that some banks made commitments beyond their assigned quotas. BDL asked them to fulfill these obligations...

Article details

Opel dealership goes to A.N. Boukather. A four-year plan to enhance the brand

A.N. Boukather (ANB) acquired the Opel dealership previously owned by Techno Cars. The deal was finalized during February. ANB already sells Mazda cars, Otokar buses, and different brands of motorcycles.

The international ownership of Opel moved in mid-2017 from General Motors to the French PSA Group, which owns Peugeot, Citroën, and DS. Anthony Boukather, Chief Executive Officer at ANB, said that the strategy of the new mother company is to spread Opel as a global brand and not just...

Article details

Rent subsidy fund finally gets decree. Formulation of committees is last step towards full application of rent law

The Ministry of Finance (MoF) issued a decree that establishes a fund to subsidize tenants under the old rent law who are unable to pay the fair value of their leases. The decree also explains the fund's mode of operations.

The fund subsidizes tenants on old rent by paying the difference between the old and new (fair) rent.

The decree still needs the signature of the President and Prime Minister.

According to the 2017 budget, $20 million will be allocated to the fund. "We e...

Article details

Net public debt rises six percent to $70 billion. Share of foreign debt is falling

Net total debt, after deducting public sector deposits with the Central Bank (BDL) and commercial banks, increased by six percent to $69.3 billion. Gross public debt grew 6.2 percent in 2017 to reach $79.5 billion by the end of the year, according to data published by the Ministry of Finance (MoF).

The foreign portion of the debt increased by $2.3 billion to $30.4 billion. Domestic debt rose by $2.4 billion to $49.1 billion. The proportion of foreign debt as a percentage of total debt con...

Article details

Net public debt rises six percent to $70 billion. Share of foreign debt is falling

Net total debt, after deducting public sector deposits with the Central Bank (BDL) and commercial banks, increased by six percent to $69.3 billion. Gross public debt grew 6.2 percent in 2017 to reach $79.5 billion by the end of the year, according to data published by the Ministry of Finance (MoF).

The foreign portion of the debt increased by $2.3 billion to $30.4 billion. Domestic debt rose by $2.4 billion to $49.1 billion. The proportion of foreign debt as a percentage of total debt con...

Article details