Lebanon’s public debt up 16.5 percent
The Central Bank in Lebanon reported that the Lebanese public debt reached $27.2 billion by the end of last January, a 16.5 percent rise, reported ksa. The same source added that the country’s foreign currency reserves declined by 20 percent to reach $4.72 billion by the end of 2001. The Minister of Treasury, Foad Al-Saniora, said that the government is making efforts to lessen the budget deficit, which amounted to 48 percent of the government’s spending last year.
The Lebanese Central Bank reported that the national economy recorded a $46.1 million balance of payment deficit last January. The economy recorded a $1.2 billion balance of payment deficit for the entire year of 2001 compared with a $289.1 million deficit in the previous year of 2000. — (menareport.com)
© 2002 Mena Report (www.menareport.com)