Lebanon’s inflation rose by 0.03 percent in the month of April compared with figures from the same month last year. The state recorded 0.44 percent inflation rate in March and a 2.77 percent inflation in February.
February’s inflation rate jump came with the application of the Value-Added Tax (VAT) of that month. Prices of consumer and investment goods have been on the rise over the past four months of this year after stagnating for more than three years.
The new 10 percent VAT is in sync with the government’s fiscal reform and tax modernization program. It is expected to raise government receipts and generate approximately $500 million a year in additional public revenue. — (menareport.com)
© 2002 Mena Report (www.menareport.com )