VOL. XLVII

No 20

17-May-2004

LEBANON

BUDGETS AND REVENUES

Lebanese Parliament Approves Status Quo Budget

The Lebanese Parliament on 7 April approved the countrys budget law for 2004 with a deficit of LL3,000bn ($1.98bn), an increase of 41% over the 2003 deficit of LL2,125bn ($1.40bn). The budget was described by some members of parliament as unexceptional and lacking in measures to bring about the required economic reforms. The deficit represents 31.9% of total expenditure, an increase from 24.7%...