BEIRUT: Economy Minister Mohammad Safadi said the 2012 state budget would be ready by next month.

“The 2012 draft budget law will be finalized in September,” Safadi said in an interview published by local As-Safir Monday.

He said all but the budgets of the Energy Ministry and that of the Public Works and Transportation Ministry “are near complete.”

“Nearly all ministries requested a budget increase,” he said, adding that a few ministries maintained the budgets of the previous year.

Safadi expected a rise in Electricite du Liban’s (EDL) deficit for 2011-2012 to go over $1.8 billion as a result of fuel price hikes.

Meanwhile, EDL’s 2012 budget was near complete, As-Safir reported.

The budget, however, was drafted based on assumptions that the price of an oil barrel is $115 while the 2011 budget was placed on $75 for the barrel.