Printer Friendly

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
prep.
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:
  • List of tariffs in Canada
  • List of tariffs in United States
  • List of tariffs in India
  • List of tariffs in China
  • List of tariffs in Russia
 in the same reporting rose by LL865 billion while the proceeds from the value added tax value added tax n (BRIT) → impuesto sobre el valor aƱadido or agregado (LAM)

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.

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Daily Star (Beirut, Lebanon)
Date:Oct 7, 2009
Words:306
Previous Article:A boom not a slump is the right time for austerity measures.
Next Article:Credit Barack Obama with resolve on a Palestinian state.
Topics:


Related Articles
Lebanon's budget deficit hits $1.45 billion.
Beirut reports slight increase in deficit during first three quarters of 2008.
Salameh warns against increasing budget deficit.
Deficit spending in Lebanon still on rise.
Jordan cuts back on capital projects as budget deficit soars.
Lebanon budget deficit hits over 22 percent of spending.
Debt markets fill budget gap.
Lebanon's budget deficit rises by $2.23bn.
Total budget deficit up to August reaches 24.47 percent Spending on electricity rise by LL176 billion from 200.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters