Arab Countries GDP 'Likely to Decline 2.8% in 2014'

(MENAFN- Arab Times) President of the General Union of Chambers of Commerce, Industry and Agriculture for Arab Countries expects the GDP of Arab nations to decline 2.8% in 2014. Speaking at the Lebanon Economic Forum 2014, Adnan Kassar said estimates show a lower growth rate of GDP in Arab nations from 3.9% in 2012 to 3.3% in 2013 and this year it is likely to decline to 2.8% with the prospect of adverse conditions continuing. "According to the World Bank's study, Lebanon has lost $7.5 Billion, following the wave of Syrian refugees whose numbers have reached one-third of Lebanon's population," he said. "The internal Lebanese crisis has aggravated the situation and made us suffer further, especially that investors are no longer attracted to Lebanon," he added