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FINANCIAL NEWS
Budget deficit in Lebanon increases 27% in August
26 Nov 2016
The Lebanese Finance Ministry the country’s budget deficit had increased in August 2016 to 26.88% of spending comparing from 23.14% in the same period of 2015, and this deficit was the result for a rise in government expenditures in the first eight months of this year.
Accordingly, the total revenues for government posted LL10.36tr, an increase of 4.1%, while expenditures stood at LL14.17tr, registering a rise of 9.45% in the mentioned period. In addition, slight increase had been posted in customs receivables and value added tax up to August of this year.
However, business leaders and investors said that one of the main duties of the new government is to pass the budget as soon as possible to send a positive signal to the market.
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