Bloomberg News

Lebanon’s 8-Month Budget Gap Narrows to 1.47 Trillion Pounds

November 02, 2011

Nov. 2 (Bloomberg) -- Lebanon’s budget deficit narrowed 37 percent in the first eight months of the year as revenue from a telecommunications tariff increased.

The deficit narrowed to 1.47 trillion Lebanese pounds ($977 million) from 2.3 trillion pounds a year earlier, the Ministry of Finance said today in an e-mailed statement from Beirut.

The ministry included estimated revenue of 1.44 trillion pounds from the Telecommunications Ministry in its calculations, up from 331 billion pounds in the first eight months of 2010. The money hasn’t yet been transferred to the Treasury.

--Editors: Louis Meixler, Susan Lerner.

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: Louis Meixler at lmeixler@bloomberg.net.


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