2013 budget plan in Cabinet

Draft sets spending at $15.3 billion,
new tax proposals included

The public budget plan for the year 2013 was submitted to Cabinet on Friday, August 31, the Ministry of Finance said.

“The budget draft is committed to limiting spending as possible, while considering urgent livelihood and economic needs,” the ministry said.

The 2013 budget has set spending ceiling at $15.3 billion. It expected revenues of $12.2 billion, of which some $2.4 billion from new tax proposals.

The budget includes the allocation required for amending the salary scale for public sector employees, some $1 billion. It also includes the payment needed to cover the increase of the hospitalization tariff, around $172 million.

The 2012 budget draft law is currently being circulated to Parliament members. The draft will be discussed by the Finance and Budget Committee. However, it will not be voted by the general assembly until after the related accounting documents are submitted.

The 2012 budget had set the spending ceiling at $14 billion and projected revenues at $10.7 billion. The draft had excluded the salary scale, and tax procedures.

Reported by Hanadi Chami