Lebanon s Central Bank building in Beirut, Friday, March 16, 2018. (The Daily Star/Mohammad Azakir)
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Lebanon's fiscal deficit at the end of 2017 fell 22.45 percent to $3.8 billion compared to 2016 thanks to a tax applied on the proceeds from Banque du Liban's financial engineering. As a result, the deficit ratio to GDP improved from 9.8 percent to 7.4 percent, its best performance in three years. The latter had increased by 13 percent in 2017 relative to end-2016," the report said. It added that if EDL's deficit in 2017 had been close to that of 2016, there would have been almost no growth in public expenditures over the year.
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