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Lebanese budget deficit up 26.02% in Q1

17 Jun 2013

(MENAFN) Lebanese Finance Ministry stated that the country’s budget deficit hiked 26.02 percent and reached USD767.6 million in the first quarter of this year, compared to USD655.8 million (22.2 percent)in the same period in 2012, reported The Daily Star.

The ministry also said that the rise in budget deficit caused the primary surplus, minus the cost of debt servicing, to fall by 0.16 percent to USD173 million.

The ministry added that total government revenues till the end of the first three months of this year stood at USD2.18 billion compared to USD2.05 billion year on year, recording a fall of 5.83 percent.

It is worth noting that governent spending in the first quarter amounted to USD2.94 billion, up 0.08 percent of last years the same quarter.

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