Lebanon's budget deficit reaches 24 percent in first eight months.
Summary: <p>BEIRUT Beirut (bārt`), Arab. Bayrut, Fr. Beyrouth, city (1996 est. pop. 1,200,000), W Lebanon, capital of Lebanon, on the Mediterranean Sea, at the foot of the Lebanon Mts. : The Finance Ministry said Tuesday that the budget deficit for first eight months of 2009 reached 24.47 percent of spending or LL2.777 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time.
(mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed.
In the USA and Canada, 10^12. ($1.84 billion) compared to 27.35 percent in the same period of 2008 or LL2.550 trillion. The ministry said the allocations for Electricite du Liban in the same reporting period rose by LL176 billion.
BEIRUT: The Finance Ministry said Tuesday that the budget deficit for first eight months of 2009 reached 24.47 percent of spending or LL2.777 trillion ($1.84 billion) compared to 27.35 percent in the same period of 2008 or LL2.550 trillion.
The ministry said the allocations for Electricite du Liban in the same reporting period rose by LL176 billion.
The primary surplus, excluding the cost of debt servicing, for the first eight months of this year recorded a surplus of LL975 billion (or 59.8 percent of total spending), an increase of LL127 billion compared to the same period of 2008.
The primary surplus in the first eight months of 2008 was LL848 billion.
Total government spending Government spending or government expenditure consists of government purchases, which can be financed by seigniorage, taxes, or government borrowing. It is considered to be one of the major components of gross domestic product. up to August 2009 reached LL11.347 trillion while spending outside the cost of debt servicing reached LL7.595 trillion.
Total government tax and not tax revenues in the same period reached LL8.570 trillion.
According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. the ministry, government revenues jumped by LL1.793 trillion (or 26.47 percent) to LL8.570 trillion.
Revenues from tariffs This is a list of tariffs and trade legislation:
value added tax n (Brit rose by LL258 billion.
However, total government expenditures in the first eight months of this year rose by LL2.020 trillion (or 21.66 percent) to reach LL11.347 trillion. -- The Daily Star
Copyright 2009, The Daily Star. All rights reserved.
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