(MENAFN) Based on Lebanon’s draft budget published on Jan 2, the Lebanese government that is overwhelmed by debt predicts a 20.8 percent deficit for next year.
The scheme is going to witness ministers propose a long-run treasury advance to Electricité du Liban, the country’s electricity firm, of 5.25 trillion Lebanese pounds (USD3.5 billion).
The advance is going to be arranged to pay for fuel acquistions, interest and loan installments, in a nation that has been struck by energy deficiencies.
The previous year, Lebanon’s expected budget had a deficit of 31.3 percent, and the scheme was not agreed on by the nation’s parliament.
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