VOL. XLIV

No. 05

29-January-2001

LEBANON

Lebanon Loses Revenue From Customs Duties, Government Raises Spending To Boost Growth

Lebanons revenue from customs duties, the governments major source of income, dropped by 21.58% to $73.04mn month-on-month in December 2000 as the governments tariff cuts took effect, according to Lebanons High Customs Council on 19 January. Revenue from customs duties for 2000 amounted to $1.3bn, an 11.1% decline from 1999. Lebanon also recorded a trade deficit of $5.5bn...