Bloomberg News

Lebanon’s 7-Month Budget Gap Narrows 33% to 1.2 Trillion Pounds

September 30, 2011

Sept. 30 (Bloomberg) -- Lebanon’s budget deficit narrowed about 33 percent in the first seven months of 2011 as anticipated revenue from a telecommunications tariff increased.

The deficit narrowed to 1.2 trillion Lebanese pounds ($798 million) from 1.78 trillion pounds a year earlier, the Ministry of Finance said today in an e-mailed statement from Beirut.

The ministry included estimated revenue of 1.25 trillion pounds from the Telecommunications Ministry in its calculations, up from 331 billion pounds in the first seven months of 2010. The money hasn’t yet been transferred to the Treasury.

--Editors: Jennifer M. Freedman, Karl Maier

To contact the reporters on this story: Massoud A. Derhally in Beirut, Lebanon at mderhally@bloomberg.net.

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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