Lebanon: Budget Deficit Up 1.49 percent in July 2000
The budget registered a primary deficit of $101.89 million in July, as the deficit/spending ratio decreased to 55.41 percent from 59.88 percent in June 2000. The lower ratio was due to a 1.49 percent increase in the deficit resulting from a 21.89 percent increase in revenues, compared to an increase of 9.67 percent in expenditures.
For the first seven months of 2000, government revenues and expenditures equaled $1,668 million and $3,588 million (of which $1,550.7 million was in debt servicing) respectively, resulting in a deficit of $1,919 million.
For 1999,the equivalent figures were $1,976.23 million in revenue and $3,461.36 million in spending ($1,608.14 million accounted for by interest payment on the debt), and a deficit of $1,485.13 million.
The deficit spending ratio in the first 7 months of 2000 equaled 55.41 percent, above the government's target of 36 percent for the whole of 2000 and still higher than the 42.65 percent recorded over the same period in 1999. — ( Banque du Liban et d'Outre-Mer Sal )
© 2000 Mena Report (www.menareport.com)