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FINANCIAL NEWS
Lebanon’s financial deficit spread by 28 percent to USD 3.95bn
17 Mar 2016
(MENAFN) Lebanon’s fiscal deficit extended by 28 percent to USD 3.95bn last year, the deficit increased almost USD 1bn despite fall in energy costs
.
Moreover, the fall in energy costs reduced government payments to Lebanon’s elect generator and distributor EDL by 45 percent.
Additionally, other factor for the growth in deficit was that revenues in 2015 were boosted by a one-off transfer of accumulated telecoms receipts.
The country’s economy increased by an annual average of 8 percent in the years leading up to 2011 and the growth dropped at 1.4 percent.
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