REPORT: As Beirut suffers, its municipal reserve funds exceed $700 million

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2016-05-05 | 13:21
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REPORT: As Beirut suffers, its municipal reserve funds exceed $700 million
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REPORT: As Beirut suffers, its municipal reserve funds exceed $700 million

At the time Beirut suffers from deprivation, the treasury of its municipality is accumulated with reserve funds that exceed $700 million.

 

The municipality’s projects vary but one example is its purchasing of real estate properties, inside and outside the city with a total cost of $212 million.

 

The Accounting Bureau said that the prices were high and that the total cost of the real estate is only $202 Million, meaning the differences reaches up to $10 million.

 

That has been the case over the last 6 years, but a new era shall emerge with the upcoming municipal elections.

 
 

For more details watch full report in the video above 

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