A Finance Ministry source says there are no cash flow problems.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The unpopular proposal to raise taxes on gasoline by LL5,000 to reduce the budget deficit has again illustrated the dilemma of the political class which always searches for piecemeal solutions for a mammoth financial problem.The informal economy refers to activities and income that are partially or fully outside government regulation, taxation and observation.Hamdan called for deep fiscal and economic reforms in line with political reforms. He noticed that there is rampant waste in most government departments and this issue should be addressed before even thinking of adding taxes. Government expenditures reached $9.84 billion, down by 2.9 percent from the same period of 2014, while revenues dropped by 8.6 percent to $7.23 billion.The decrease in government revenues is due to a decline in nontaxable revenues, with nontaxable budgetary receipts falling by 5 percent to $1.54 billion and Treasury receipts dropping by 56.2 percent to $407.6 million.It accounted for 33.3 percent of total expenditures and for 37.5 percent of budgetary spending, and it absorbed 45.4 percent of overall revenues and 48.1 percent of budgetary receipts.
Dollar demand ‘nothing unusual’, Lebanese bankers say
Lebanon to pay top yield on new Eurobonds
S&P: Lebanon FX reserves enough for a year
FOLLOW THIS ARTICLE