Lebanon Businessnews News
 

Better Fiscal Performance
Tax revenues up 30 percent in the first 3 quarters of 2009
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Revenues, including budget and Treasury receipts, increased by 24 percent relative to the same period of 2008, thereby reaching $6.27 billion. Total tax revenues increased  by 30 percent, mostly because of an almost doubling of custom revenues.

VAT revenues increased by 15 percent. Expenditures, including budgetary and Treasury spending, increased by a yearly 20 percent to reach $8.5 billion. Half of the treasury expenditures are transfers to Electricité du Liban.

Increases in budgetary expenditures were due to an increase in interest on debt. The primary balance (i.e., excluding debt service) had a surplus of $693 million, a 16 percent improvement over the same period of last year.

 

Date Posted: Dec 03, 2009
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