Central Bank Governor: No Fear over Monetary Stability in 2011

Central Bank governor Riyad Salameh appeased fears over monetary stability in 2011 and said economic growth will be within the limits expected.

"There is no fear this year over the currently balanced monetary stability," Salameh told As Safir newspaper in remarks published Monday.

"Despite a decline in indicators during the last period of 2010, economic growth achieved last year will be within the limits of 7.5 percent, meaning it will stay as expected," he said.

Salameh told the daily that economic growth and monetary stability require the functioning of state institutions.

He also said bank loans to economic sectors had increased by 20 percent from last year, the highest rate in the region.