NO. 18


Financial and Banking News

Public Finance

Lebanese Parliament Approves $3.4Bn Budget For 1995

The Lebanese Parliament has approved spending of LL5,600bn ($3.4bn) for 1995,an 8% increase on 1994. Revenues have been projected at LL3,150bn ($1.9bn), anincrease of 41%. No immediate indication has been given of how the deficit willbe financed, but in recent times the government has been able to borrow fromlocal banks by issuing treasury instruments. During the...