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2023 budget: Cabinet's approval amidst deficit increase

Lebanon Economy

16-08-2023 | 11:08

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2023 budget: Cabinet's approval amidst deficit increase

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The Cabinet approved the 2023 budget project after it was studied in six sessions. According to information obtained by LBCI, the budget deficit reached 45 thousand billion Lebanese lira, equivalent to 24 percent, up from the previous 18 percent.

As for expenditures, they amounted to 192 billion Lebanese lira, while revenues were 147 billion Lebanese lira.

The Cabinet also approved a draft law aiming to grant the government legislative authority in the customs field and a draft law aiming to open a credit in the 2023 budget reserve before its ratification.

It is worth mentioning that Deputy Prime Minister Saadeh Al Shami distributed copies of a letter he addressed to the government, which includes his opinion on the Alvarez & Marsal report and the required government steps in this regard (to view it, click here).

The Cabinet postponed the discussion on increasing fees and taxes to the 2024 budget, which will be sent by the Ministry of Finance to the government in the coming weeks.

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