VOL. XLV

No 6

11 February 2002

LEBANON

LebanonPasses 2002 Budget, Aims To Cut Debt Through Privatization

Lebanonsparliament on 4 February passed an austerity budget for 2002 which aims toreduce the countrys heavy debt burden (both public and foreign) and, for thefirst time, rein in expenditure. Total expenditure is forecast to fall toLL9,375bn ($6.2bn) or 35% of GDP from the 2001 budgets LL9,900bn ($6.6bn), or39% of GDP. Revenues are slated to climb to LL5,565bn ($3.7bn) in 2002 fromLL4,900bn...