VOL.XXXVI

NO.48

30-AUGUST-1993

Financial and Banking News

BUDGETS AND REVENUES

Lebanese CabinetApproves 1993 Budget

TheLebanesebudget for 1993,approved by the cabinet 26

August,projects expenditure of LL3,800bn($2.2bn),more than double actual spending during1992, which is estimated

atLL1,834bn($1.1bn).Revenuefor 1993 isestimated at LL1,701bn ($1bn) double the estimatefor 1992.Defense expenditure,at 12.5% of thetotal,stillrepresentsthe largestsingle allocation,although it has been increased

by only...