The Central Bank’s high foreign currency reserve has allowed Lebanon to weather any financial crisis.
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International rating agency Moody's said the delay in the implementation of fiscal reforms are among the reasons the negative outlook of the country was maintained.It expected Lebanon's fiscal deficit to significantly exceed the median deficit of 4 percent of GDP among 'B'-rated sovereigns.Lebanon's budget deficit in the first four months of this year rose to 37.2 percent of spending compared to 33.75 percent in the same period last year. Total government revenues from January through March 2016 rose to LL3.66 trillion ($2.43 billion), an increase of 16.7 percent while total expenditures in the same period reached LL5.838 trillion, an increase of 23.1 percent.
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