Bloomberg News

Lebanon’s Nine-Month Budget Gap Narrows to 2.1 Trillion Pounds

December 01, 2011

Dec. 1 (Bloomberg) -- Lebanon’s budget deficit narrowed in the first nine months of the year because of increased revenue from a telecommunications tariff.

The deficit narrowed to 2.1 trillion Lebanese pounds ($1.39 billion) from 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 1.6 trillion pounds from the Telecommunications Ministry in its calculations, up from 331 billion pounds in the first nine months of 2010. The funds haven’t yet been transferred to the Treasury.

--Editors: Andrew J. Barden, Heather Langan

To contact the reporter 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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