Beirut - Decypha: Lebanon’s state budget for 2017 will LL 23.67 trillion ($15.7 billion) in spending and LL 16.38 trillion ($10.8 billion) in revenues, revealed Lebanon’s Finance Minister Ali Hassan Khalil, reported Daily Star.
The government plans to reduce budget deficit by almost one percentage point, from 9.3% down to 8.7%, according to Annahar News.
"We will tackle issues of squandering, including with customs, and reform the ports as well," the finance minister said. "The new state budget demonstrates the government's reformist politics.”
The new budget will include increased funds in several sectors, including health and education sectors. A hike of public sector salary is part of the budget, pending on Parliament’s agreement on distribution.
The 2017 budget is the country’s first budget since 2005, a result of the crippling political differences between rivals following the assassination of former Prime Minister Rafiq Al-Hariri. Lack of a state budget left Lebanon’s economy burdened with over $74 billion in public debt.
By Decypha Editorial Team
