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FINANCIAL NEWS
USD 293m deficit in Lebanese budget
13 Jun 2013
(MENAFN) Lebanon’s budget deficit during January and February of the ongoing year fell to 16.05 percent, or USD 293m, compared to 18.1 percent recorded in the same period of last year, marking a drop of USD 58m.
Finance Ministry declared that the primary surplus, excluding the cost of debt servicing, stood at almost USD 7m, which represents 2.23 percent of total government expenditures.
Total government revenues in the first two months reached USD 131billion, increase of 6.5 percent compared to the same period last year.
Regarding expenditures, the Finance Ministry said total government spending reached USD 130 billion, a decrease of 5.87 percent.
However, the Finance Ministry has not yet included the salary scale bill in its budget and said it was awaiting Parliament’s consent of the bill, which was approved by the Cabinet before its resignation.
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