BEIRUT: State expenditure increased 17 percent in the first quarter of 2014 compared to the same period last year, a summary of fiscal performance issued Thursday by the Finance Ministry showed.
Expenditure increased to LL4.38 trillion ($2.9 billion) during the January-March 2014 period, compared to LL3.7 trillion ($2.48 billion) for the same period of 2013, figures showed.
The total budget deficit rose to 23.64 percent of total expenditure in the first quarter of 2014, compared to 15.22 percent in the first quarter 2013.
Revenue increased 6 percent in the first quarter of 2014 to LL3.34 trillion ($2.2 billion), compared to LL3.15 trillion ($2.1 billion) during the same period last year. Tax revenue amounted to LL2.5 trillion ($1.6 billion), up 4 percent from LL2.39 trillion ($1.6 billion) in the first quarter of 2013.
The total primary surplus reached LL58 billion ($40 million) in the first quarter of 2014, representing 1.17 percent of total expenditure, compared to a primary deficit of LL7 billion ($4.6 million) in the first quarter of 2013.
A version of this article appeared in the print edition of The Daily Star on September 05, 2014, on page 4.