The Ras al-Nabaa neighborhood of Beirut on July 10, 2021 during the electricity crisis. (Credit: Nicholas Frakes/L’Orient Today)
BEIRUT — Lebanon recorded a fiscal surplus of LL26.619 billion in 2024, or the equivalent of $297.4 million at the LL89,500-to-the-dollar rate, according to the latest figures compiled by the Ministry of Finance and put forward by Byblos Bank’s “Lebanon This Week” report. The surplus is 21.8 percent lower than the $380.5 million recorded in 2023.Public revenues totaled $4.1 billion, a 54.8 percent increase compared to 2023, while public expenditures amounted to $3.8 billion, up 66.4 percent from the previous year. The 2024 budget had projected revenues of approximately $3.5 billion and public spending at about $3.45 billion, with both spending and revenue coming in higher than the preliminary projections drafted for the year.“The framework which was used for budget forecasting was not published, so we don’t exactly know which...
BEIRUT — Lebanon recorded a fiscal surplus of LL26.619 billion in 2024, or the equivalent of $297.4 million at the LL89,500-to-the-dollar rate, according to the latest figures compiled by the Ministry of Finance and put forward by Byblos Bank’s “Lebanon This Week” report. The surplus is 21.8 percent lower than the $380.5 million recorded in 2023.Public revenues totaled $4.1 billion, a 54.8 percent increase compared to 2023, while public expenditures amounted to $3.8 billion, up 66.4 percent from the previous year. The 2024 budget had projected revenues of approximately $3.5 billion and public spending at about $3.45 billion, with both spending and revenue coming in higher than the preliminary projections drafted for the year.“The framework which was used for budget forecasting was not published, so we don’t exactly know...