NO. 17


Financial and Banking News

Budgets & Revenues

Lebanese Draft Budget Projects 30% Rise In Spending.

The Lebanese Government is projecting expenditure of LL4,080bn ($2.39bn) for1994, a 30% increase over estimated actual expenditure in 1993. Its draft budgetfor 1994, which was presented to Parliament on 20 January, projects a deficit ofLL1,835bn ($1.1bn), equivalent to 45% of spending. The spending total has beenincreased from LL3,800bn as a result of the...