VOL. XLII
No. 30
26-July-1999
LEBANON
Lebanon Approves 1999 Budget With 40.3% Deficit
The long-awaited Lebanese budget was passed on 15 July,following months of delays and showing little deviation from the fiscalmanagement of previous governments. The new government has forecast a budgetdeficit of LL3,370bn ($2.25bn) for fiscal year 1999 (which commenced on 1January) equivalent to 40.3% of projected revenues. Local economists arepessimistic about even this target being achieved, given the...
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