I- Historical Background
The Lebanese national accounts was first established in 1964 using an advanced model
similar to the model that was adopted later in 1993 by the international organization
(SNA 1993) by the central administration of statistics under the direction of Mr. Robert
Kasparian. Because of the war incidents in Lebanon, work in statistical field was frozen
till 1994. The last economic accounts published by the Central Administration of
Statistics (CAS) date from 1994-95. The CAS publication, entitled “Statement of
Economic Accounts”, emphasized the statistical gaps that make it difficult to draw up
accurate economic accounts that cover all aspects of the economy.
Since then, the CAS has made great efforts to fill these gaps: a census of housing units
and establishments having an economic activity in 1996, a sampling survey on household
living conditions in June 1997, and a survey of household budgets in Beirut and its
suburbs throughout the year 1997. In addition, the Ministry of Agriculture carried out an
agricultural census in 1997 with the assistance of the FAO, and the Ministry of Industry
conducted an update for 1998 of the industrial census originally taken in 1994 with the
assistance of the German technical cooperation agency (GTZ). The National Employment
Office carried out two employment surveys in 1996 and 1999 with the help of ILO.
The procedure to produce national accounts was delayed because the central
administration of statistics at that time had basic tasks to execute. In early 2002, the
Lebanese Government assigned a special team in the Ministry of Economy and Trade the
task of compiling the national accounts for year 1997 till 2002, requesting technical
assistance from the French National Institute of Statistics and Economic Studies. This
team completed its mission in July 2005. In December 2005, the H.E. prime minister
extended the mission of the team to compile national accounts for the year 2003 till 2005
in the presidency of the council of ministers.
In fact, year 1997 was chosen to be the base year because the data for the year 1997 are
sufficiently complete to allow the compilation of the main accounts describing all aspects
of the economic life of the country. Moreover, 1997 may be considered a “normal” year –
in that economic activity returned to a normal volume after the period of major project
launches to rebuild the infrastructure destroyed by the war, and had not yet felt the effects
of the world recession that appeared in subsequent years – and thus can serve as a base
year for the construction of economic accounts. Accordingly, three publications were
issued: one for year 1997 issued in year 2003 and one for years 1997 till 2002 in year
2005 and one for year 2003 issued in year 2006 and the publication of year 2004 will be
issued hopefully this month.
II- The current state of the art in the implementation of 1993 SNA
The economic accounts for 1997 and up to date have been drawn up in accordance with
the general model of national accounts. The accounting model adopted, while complying
with the basic concepts defined by the international community, does not adhere strictly
to the architecture recommended by the United Nations and the European Union, for
reasons we’ll mention later in part three.
The accounting model adopted to present the economic accounts of 1997 and up to date
is thus highly simplified, but it serves the purpose of this work: to identify the main
characteristics of the country’s economy with the statistical information available and to
provide decision-makers with a foundation for an analytical and decision-support
instrument for economic policy. It thus constitutes the first step towards the construction
of a macroeconomic model that reflects the Lebanese economy.
The work consists of compilation of the:
-1- Goods and Services account
-2- Integrated economic accounts of the national economy
Goods and services use-resource table
Current value LBP billion
Nature of flow 2000 2001 2002 2003
Intermediate uses 12 347 12 186 12 954 14 157
Final consumption 26 306 27 203 29 293 31 176
GFCF 5 268 5 314 5 479 5 862
Exports 2 675 3 110 3 492 3 788
Changes in inventories -160 608 -357 -129
Adjustment 0 0 0 0
Total uses= resources 46 366 48 421 50 862 54 854
Output except Trade 31 836 32 081 34 077 36 275
Imports 9 027 10 289 9 698 10 851
Taxes/imports 1 939 1 819 2 544 2 726
Trade output* 3 905 4 233 4 543 5 002
*=Trade margins + trade services exports
Use-resource tables are established according to the territorial concept. Consequently
imports and consumption do not include household expenses abroad. In the same way,
tourists expenses on the territory are not included in exports but in consumption.
-1- Methods of estimation of goods and services accounts
Goods and services are classified according to their production sector in 92 branches,
which are grouped in 15 large branches, themselves gathered according to 8 sectors.
According to the statistical data availability, the estimates are made either at the branch
level, even at the product level, and then grouped at the higher level, or directly at the
large branch level.
For each product, branch and/or large branch, the following balance is established:
Intermediate consumption + final consumption + Gross fixed capital formation +
Output + Imports + Taxes on imported products + trade margins
(including transport margins and taxes on local products)
This balance is estimated in value at current prices and in volume at previous year prices.
Estimation of intermediate consumption
In the majority of cases, the product nature determines its use: raw materials intended for
production activities, final consumer goods, and equipment goods for production sectors.
Goods and services, which can be allocated to multiple uses, are broken down between
various uses in a first step in an approximate way. Thus all imports are distributed
according to the three types of destination.
On the basis of 1997 figures, the value of goods used as intermediate products is
estimated during the following years thanks to indicators provided by intermediate goods
imports and to indicators of such goods production. This estimate is modified thereafter
when carrying out successive accounts balancing.
Estimation of final consumption
The final consumption is estimated in the same manner as the intermediate consumption:
use of indices provided by imports analysis and output indices of products for private use.
Moreover, a first exogenous estimate of food consumption is made, based on an
assumption of population growth by 1,3% per year and of price elasticity between -1,5
and 0 according to the product. Just as for the intermediate consumption, these first
estimates are corrected when carrying out the accounts balancing.
Estimation of gross fixed capital formation
Estimation of gross fixed capital formation is entirely based on the evolution of
equipment goods imports intended for different production sectors and on construction
and public works estimates. The breakdown of equipment goods between household use
(recorded in final consumption) and professional use (recorded in gross fixed capital
formation) contributes to a less arbitrary estimation.
Estimation of exports
Customs statistics give in principle the value of goods exports. However, customs
declarations proved to be clearly underestimated. Significant corrections were made to
1997 statistical data. The same correction coefficients were applied to 1998-2002 series
with some supplementary modifications introduced during the accounts balancing.
Exports of services are estimated roughly on the basis of some indicators: accounts of the
telecommunications Direction, flows of transit and re-exports. In 2003, a survey was
introduced to estimate more accurately the export of services.
Introduction of changes in inventories
Changes in inventories are not directly covered by statistics. This item was introduced to
regularize some variations, which looked abnormal. In particular, the very strong peak of
imports in 2001 after a period of fall and before a fall again in 2002 can only be
explained by a change in inventories. The magnitude of this move results from the
arbitration carried out during the accounts balancing.
Estimation of output
The Ministry of agriculture provides output estimates according to the 1997 agricultural
census and yearly agriculture surveys.
The electricity output is estimated in volume by statistics on overall consumption in kWh
and in value by applying a unit value index. Water output is estimated by analyzing
evolutions of main water offices accounts.
The output of other industrial goods is estimated mainly thanks to indices of raw material
imports. For agro alimentary industry products, the local output of agricultural products
intended for manufacturing was also taken into account.
The construction value was estimated using a composite index made up with data on
local cement sales and raw material imports for construction.
The services output is estimated on the basis of the 1997 accounts by using various
indicators: movements in ports and airport and oil consumption for transports; accounts
of Post and telecommunications authorities for the communication sector; number of
marriages for housing services; arrivals of tourists and population growth rate for the
hotels and restaurants activity (and also the special sales tax on restaurants); school
statistics for education; drugs imports and expenses of social security health department
and of the health ministry the health services; data from banks and insurances for the
financial services; State closing accounts for the non-market services.
Imports data are provided by customs statistics. Very few modifications were brought to
these statistics since the Customs has a close control of importers declarations. The few
modifications are as follows:
Gold ingots and banknotes imports are excluded from goods and services accounts. Only
a small proportion of gold used in jewellery-making was reintroduced thereafter.
The ministry for energy and oil provided oil products imports data.
Taxes on imports
Taxes on imports include customs duties, excise duties and VAT since 2002. They are
drawn from customs statistics.
Trade margins include transport margins, indirect taxes not included in imports taxes and
net trade margins themselves. Starting from 1997 data, they are estimated by scrutinizing
the evolution of prices of origin (import price including taxes and producer price) and
consumer prices. Net margins on intermediate products and enterprises equipment goods
are supposed to be constant.
Compilation of accounts in volume: computation of various price indices
Accounts in volume at the prices of the previous year are compiled for each year to bring
out the real evolution of the various components. This compilation is made by using
appropriate price indices: intermediate products price indices, consumer prices index,
equipment goods and construction prices, export prices and producer prices (at the farm
or at the factory, etc.) and finally import prices. Products taxes in volume as well as trade
margins are computed by applying to the resources in volume the taxes and margins rates
of the previous year.
The price index of intermediate products adopted by default (i.e. for lack of direct
observations) is the import price index of intermediate products, increased with taxes.
Two sources were used for the compilation of consumer prices: prices published in ACS
bulletins and data from prices surveys carried out by the Chamber of Commerce and
Industry of Beirut. The resulting index differs from the usually known price index, owing
to the fact that weightings are those drawn from national accounts. In the indices
computation, weights given to each detailed item of a product group or branch are drawn
from the 1997 household budget and maintained constant. On the other hand, the weight
of each branch as a whole varies each year following the level of consumption estimates,
according to the chain-based index methodology.
The price index of gross fixed capital formation is made up with import prices of
equipment goods including taxes and building costs.
The price index of export is computed on the basis of customs statistics. It is a unit value
index and not a price index in a strict sense.
The price index applied to the inventories changes is the import price index of the
different stored products.
The price index of production is compiled according to statistics available: The index of
agricultural products prices is made using data of the ministry for agriculture. That of
energy according to the tariff scale of the EDL. That of the industrial production is by
default a composite index of consumer prices and export prices. That of construction is a
combination of raw materials prices and unskilled worker wages. That of trade services is
deduced from consumer prices. By convention, banking services and non-market services
"prices" are maintained constant.
The price index of imports is compiled from customs statistics. They are in fact unit
values: the "price" of each product, defined by the harmonized nomenclature in 8 digits,
is computed by dividing its value by its quantity. When the change of this price from one
year to another seems abnormal, the product in question is retained in the index only if it
is significant and after checking the quality of data with customs agents.
It should be noticed that the change in the unit values often conceals a variation in
quality. Indeed when the price of a product increases in the country of origin, the
importer tends to substitute it by similar products that are manufactured in another
Coherence of this set of adopted price indices was tested during the accounts balancing
operations and necessary adjustments were made.
Balancing of accounts
Three tests of balance are applied during the various stages of the accounts compilation:
the balance of accounts in current price, the balance of accounts in volume and finally the
balance of the input - output table in fifteen branches.
The balance of accounts in value is carried out simultaneously on all the 5 year series
owing to the fact that estimates series are compiled with indices chained themselves.
When the item "adjustment" necessary to balance the uses and the resources is not very
significant (less than 1% of estimated resources), it is brought back to zero by correcting
some items of the balance. In the event of major imbalance between uses and resources,
the estimation bases are re-examined and modifications are brought to the weak links of
the set of estimates in some likelihood limits. The arbitration is done case by case; the
followed general rule is to avoid too abrupt variations on series. In certain cases,
information from surveys on economic trends carried out by the Central Bank gave the
direction in which it was necessary to arbitrate between various estimates.
The balance of accounts in volume is not automatically carried out from the balancing of
accounts in value. An imbalance appears when changes on different price indices and
trade margins deflators are incompatible. Such compatibility is assured when the
following equation is balanced at the branch level:
(1 + c’)/(1 +c) = Ie/Ir
where c indicates the ratio of taxes plus margins on the resources (imports plus
production) in current prices, c’ the same ratio, Ie is the weighted index of uses prices and
Ir the weighted index of imports plus output prices. There, in the event of major
imbalance, arbitration is carried out and the least reliable indices are modified by
successive approximations until balance.
The balance of goods and services accounts through the input output table. Once detailed
products use and supply balances are carried out, they are grouped in 15 large branches
both in value and volume. Uses and resources of these branches are then posted in
margins of input-outputs table. This table is drawn up in current price and volume at the
prices of previous year.
The table in volume vertically computes inputs of every branch, except branch 15 namely
general government, by applying the output (i.e. production) in volume to technical
coefficients drawn from the table input-output in value of previous year. Inputs of the
public administration are computed directly from public accounts. This computation is
based on the assumption that technical coefficients in volume do not change much from
one year to another. The intermediate use thus compiled is horizontally summed line-by-
line and compared with the intermediate use posted in margin. The variations, which
appear, are in the majority of cases, not very significant and distributed between the
various user branches so as to maintain a certain regularity in the evolution of branches
value added. The initial estimates of output or the allocation between final use and
intermediate use seldom are revised at this stage. The input-output table in value is
deduced from the table in volume by applying horizontally to intermediate uses by
branch the same price index, which makes it possible to get automatically a balanced
Goods and services input-output table
Year 2003 current value LBP billion
Intermediate uses Final uses Total
1. 2. A
Agric. Energ 3. 4. 7. 8. d Total Final Change
Livest . Manuf. Cons- 5. Transp. 6. Other Trade Admi- j interm. Con- Expor in
Branche . water industr truction comm. serv. nistrat. uses sumpt. GFCF ts invent.
1. Agric. &
livestock 195 0 1 222 4 0 12 0 0 0 1 433 2 091 19 274 0 3 817
2. Energy &
water 16 975 371 23 894 345 12 68 0 2 703 1 905 0 5 0 4 613
Manufacturing 173 103 2 707 1 623 15 626 232 134 0 5 613 10 972 1 886 2 374 -129 20 716
Construction 0 0 0 0 0 0 0 0 0 0 0 3 957 0 0 3 957
5. Transp. &
commun. 0 0 32 0 632 774 340 24 0 1 802 1 938 0 172 0 3 912
services 27 4 122 107 275 399 445 1 227 0 2 606 9 283 0 245 0 12 134
7. Trade 0 0 0 0 0 0 0 0 0 0 0 0 718 0 718
Administration 0 0 0 0 0 0 0 0 0 0 4 988 0 0 0 4 988
Total uses 410 1 083 4 455 1 756 1 816 2 155 1 029 1 453 0 14 157 31 176 5 862 3 788 -129 54 854
Value added 1 640 187 3 510 2 201 2 096 9 979 6 699 3 535 0 29 846
Output 2 050 1 269 7 965 3 957 3 912 12 134 7 728 4 988 0 44 003
Imports 920 1 916 8 015 0 10 851
imports 75 1 077 1 573 -2 726 0 0
Trade margins 771 351 3 162 -4 284 0 0
Total resources 3 817 4 613 20 716 3 957 3 912 12 134 718 4 988 0 54 854
Table of territorial corrections
Territorial concept Expenses of tourists in Expenses of National concept
Lebanon Lebanese abroad
Imports 10 851 +417 11 268
Exports 3 788 1 199 4 987
Consumption 31 176 -1 199 +417 30 394
- Input-output tables are established according to the territorial concept.
Consequently imports and consumption do not include household expenses abroad.
In the same way, tourists expenses on the territory are not included in exports but
in consumption. The changeover to data according to the national concept is given
at the bottom of tables.
- Activities in these tables are homogeneous in the sense that each activity produces
a definite group of products and each group of products is produced only by this
-2- Integrated economic accounts of the national economy
The international system of economic accounts (SNA93) considers the establishment of a
set of accounts for each of the five categories of agents of the national economy, noted
by S.1 and for the rest of the world noted by S.2.
The five categories of agents of the national economy are:
- S.11: non-financial enterprises
- S.12: financial institutions
- S.13: public administrations
- S.14: households
- S.15: non-profit associations
The level of development of Lebanese national statistics does not allow a correct
establishment of the economic accounts of each of the five agents separately. It is in
particular impossible to break down the operations of production and distribution
between non-financial corporations and households. It is however possible to estimate the
main elements of the integrated accounts of domestic agents as a whole and those of the
rest of the world in an approximate way.
The following tables present the integrated accounts of the whole national economy (S.1)
and the rest of the world (S.2). These accounts show the main aggregates characterizing
the economic activity during the period 2002-2003.
Integrated accounts of the national economy (S.1)
Accounts 2002 2003 2002 2003
I. Production account
P11. Market output 32 001 33 983
P12. Non-market output 4 814 4 988
D2-D3. Taxes - subsidies /products 4 348 5 032
P2. Intermediate consumption 12 954 14 157
B1. Gross value added (GDP) 28 209 29 846
Total 41 163 44 003 41 163 44 003
II.1. Generation and allocation of primary income account
B1. GDP 28 209 29 846
D2-D3. Taxes - subsidies /products 4 348 5 032 4 348 5 032
D41. Interests 6 260 6 724 5 457 5 708
Private sector 2 166 2 471 … …
Public sector 4 094 4 253 … …
D1+D4. Compensation and other incomes 19 720 20 100 20 222 20 769
B5. Balance of primary income (GNI) 27 907 29 499
Total 58 236 61 355 58 236 61 355
II.2. Secondary distribution of income account
B5. GNI 27 907 29 499
D5. Direct taxes 1 213 1 318 1 213 1 318
D61. Social contributions 706 722 706 722
D62. Social benefits 1 738 1 655 1 761 1 678
D79. Other current transfers 453 470 3 405 5 510
B6. Balance of secondary income (GNDI) 30 882 34 562
Total 34 992 38 728 34 992 38 728
II.4. Use of income account
P2. Final consumption 28 556 30 394
B8. Gross saving 2 326 4 168
Total = GNDI 30 882 34 562 30 882 34 562
III. 1 Capital account
B8. Gross saving 2 326 4 168
P51. Gross fixed capital formation 5 122 5 733
D9. Capital transfers 7 6 338 2 540
B9. Balance: net lending/borrowing -2 466 970
Total 2 663 6 709 2 663 6 709
III. 2 Financial account
B9. Net lending/borrowing -2 466 970
F2. Currency and deposits (net) 6 144 12 920 3 789 7 515
F3 Securities other than loans 2 089 1 323 6 348 3 738
F4. Loans -675 60 -618 137
F5. Shares / other equity 98 1 425 603 3 367
Total 7 656 15 728 7 656 15 728
The various operations carried out between the economic agents or flows arising from the
economic activity are broken down into the six following categories or subcategories of
accounts: (the numbers are the codes of the international classification of the accounts).
- I. Production account
- II.1. Generation and allocation of primary income account
- II.2. Secondary distribution of income account
- II.4. Use of income account
- III.1. Capital account
- III.2. Financial account
Evolution of the main economic aggregates 2000-2003
Nature of the aggregate 2000 2001 2002 2003
GDP 25 325 25 947 28 209 29 846
+ Net factors’ income 834 303 -302 -346
= GNI 26 160 26 250 27 908 29 499
+ Net current transfers 2 463 2 544 2 974 5 064
=GNDI 28 623 28 795 30 882 34 563
- Final consumption 26 029 26 591 28 556 30 394
= Gross national saving 2 594 2 203 2 325 4 168
+ Net capital transfers 274 450 331 2 534
= Gross disposable saving 2 868 2 653 2 656 6 703
-GFCF 5 108 5 923 5 122 5 733
=Net lending(+)/borrowing(-) -2 240 -3 269 -2 466 970
+Foreign financing 1 803 1 502 4 821 4 434
=Balance of payments -437 -1 767 2 355 5 405
- Gross domestic product (GDP) is the balancing item of the production account of
all economic agents
- Gross national income (GNI) is drawn from the allocation of primary income
- Gross national disposable income (GNDI) is the balancing item of the secondary
distribution of income account
- Gross national saving is the balancing item of the use of disposable income
- Gross disposable saving and net lending/borrowing are deduced from the capital
- The balancing item of the balance of payments appears in the financial account
under the heading, “Changes of cash and deposits”
Accounts of the rest of the world (S.2)
Accounts 2002 2003 2002 2003
I. Goods and services operations
Imports 10 056 11 268
Exports 4 586 4 987
B11. Trade balance 5 469 6 281
Total 10 056 11 268 10 056 11 268
II. Primary income and current transfers account
B11. Trade balance 5 469 6 281
D1. Compensation of employees 686 788 694 706
D41. Interests 944 626 1 747 1 642
D4... Other incomes (net) 511 588
D62. Social benefits 23 23
D79. Other current transfers (net) 2 951 5 041
B12. Current account Balance 2 797 1 563
Total 7 911 8 629 7 911 8 629
III. 1 Capital account
B12. Current account balance 2 797 1 563
D9. Capital transfers (net) 331 2 533
B9. Balance: net lending/borrowing 2 466 -970
Total 2 797 1 563 2 797 1 563
III. 2 Financial account
B9. Net lending/borrowing 2 466 -971
F2. Currency and deposits (net) 2 355 5 405
F3 Securities other than loans 4 259 2 415
F4. Loans 57 77
F5. Shares / other equity 505 1 942
Total 4 821 4 434 4 821 4 434
The operations carried out with the rest of the world are recorded in four accounts, which
release the main aggregates of the balance of payments:
- I. Goods and services transactions account, the balance being equal to the trade
- II. Primary income and current transfers account, the balance being equal to the
- III.1 Capital transfers account, the balance being equal to foreign capacity or need
- III.2 Financial account, the balance being equal to the balance of payments deficit
Evolution of the various balancing items of the balance of payments 2000-2003
Nature of balance 2000 2001 2002 2003
Trade balance 5 812 6 567 5 469 6 281
+ Net income and transfers -3 298 -2 847 -2 673 -4 718
= Current balance 2 514 3 719 2 797 1 563
+ Net capital transfers -274 -450 -331 -2 533
= Net lending/borrowing 2 240 3 269 2 466 -970
+ Net financing -1 803 -1 502 -4 821 -4 434
= Balance of payments 437 1 767 -2 355 -5 405
Note: A positive balance in the foreign account represents a deficit for the country, while
a negative balance represents a surplus. Thus, the balance of payments was in deficit in
2000 and 2001, and in surplus in 2002 and 2003.
III- Main problems faced and planned changes for the future
As mentioned in part two earlier, the economic accounts for 1997 and up to date have
been drawn up in accordance with the general model of national accounts. The
accounting model adopted, while complying with the basic concepts defined by the
international community, does not adhere strictly to the architecture recommended by the
United Nations and the European Union, for two main reasons which are conceptual and
I- Conceptual Problem:
1o The classification of economic agents
When classifying economic agents, four basic functions are distinguished in economic
activity: production of market goods and services, consumption with the aim of satisfying
collective needs, administration of collective goods and services, and financial
intermediation. The agents of domestic economic activity are thus distributed according
to their roles in four groups called “Enterprises”, “Households”, “General Government”
and “Financial Institutions”. A fifth category of agents is added, called “Outside” (or
“Rest of the World”), that groups all agents operating outside the national territory
(principle of territoriality).
The system of national accounts recommended by the United Nations takes an
institutional approach to defining the categories of economic agents. This approach
matches up partially with the functional approach and is difficult to be implemented in
Lebanon at this stage of the development in statistics. For example, “Enterprises” are
split into “Non-financial corporations” and “Individual entrepreneurs”, the latter being
grouped with “Households”.
The advantage of the latter system is that it closely follows the behaviour of economic
agents. It is obvious, for example, that decisions relating to investments and to financing
methods depend on institutional structures. However, this system cannot be applied in its
entirety to the Lebanese economy at its current stage of institutional and statistical
development. In Lebanon, non-financial corporations are small in size, and most are in
fact family firms rather than true corporations as in industrial nations. Under the current
statistical system, moreover, economic activity cannot be captured by observing the
activity of institutions. The basic statistics relating to production, consumption and
investment, where they exist, are all estimated through indirect methods. In fact, this has
to do with the specific characteristics of the Lebanese economy, which differs from both
the model of industrial nations and the model of developing countries: a small country,
without mining resources, very open to the outside world and drawing its strength from
its human resources spread throughout the world. For all these reasons, the present model
uses the pure functional approach.
2o Territorial vs. National
When compiling national accounts, it is very difficult to apply the concept of
nationality for defining agents and also for transactions like consumption, export and
import. In Lebanon, when classifying agents it is difficult to distinguish between
Lebanese residents and non-residents. To resolve the problem, our team applies the
principle of territoriality on all accounts then switch to the national concept by doing the
necessary adjustments to be in line with the requirements of international standards (SNA
II- Operational Problem: The compilation of the accounts
Another major problem that hinders the efficient setup of national accounts is operational.
The compilation of the accounts for the years following the base year required the
adoption of peculiar estimation methods. The surveys of 1997 have not been carried out
since and the various accounts items had to be estimated on the basis of available
economic activity data. Moreover, the need for determining the changes in real terms led
the national accounts team to compile a coherent set of price indices from existing
materials. This is because Lebanon has an extremely short statistical history. A central
statistical department, created in the early 1960s, worked effectively for only around ten
years before the painful events of 1975-90 and did not resume its activities until 1994.
The statistics needed to compile national accounts following the international system are
thus lacking, and in any case they are not easily established, given the very unusual
structure of the Lebanese economy.
Therefore, the availability of detailed and advanced statistics is the solution to all these
problems. Currently the national accounts as I mentioned are compiled in the presidency
of the council of ministers but a year from now hopefully the central administration of
statistics will be responsible for it. They will have a special statistical program that will
help Lebanon apply SNA 1993 eventually in the compilation of national accounts. There
is a need, however, for a fundamental expansion of quarterly statistics so that the full set
of national accounts is produced on a quarterly basis, covering income and expenditure of
the principle sectors of the economy. It is only when these accounts are produced with a
reasonable time-lag that policy-makers will be able to fully analyse and understand short
term developments in the economy.