Lebanon Businessnews News
 

Cabinet endorses 2010 draft budget
This is the first budget to be approved by the government in five years
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This amended draft state budget, which comes months late from constitutional dates, is the first budget to be approved by the government since 2005, and it is still pending final approval from the Parliament, which is set to meet in few days. 

Ministers agreed on several amendments including adjustments in the budget’s appropriations to some ministries, and public departments, and they agreed on a new and comprehensive version for the draft budget that incorporates all expenditures to one budget.

Ministers increased appropriations allocated to ministries and other public departments, including $530,680 as additional provisions to the Ministry of Environment to support work of non-profit organizations.

Also, the amended budget included additional provisions by $530,680 for the individual budget of the Ministry of Industry, and an additional allocation of $4 million that will go to the Ministry of Health to finance the Ministry’s supplies of pharmaceutical products.

This draft budget, which is based on a growth forecast of 4.5 percent, expects total expenditures to reach $13.5 billion and overall revenues to total $8.6 billion this year.
 

Date Posted: Jun 21, 2010
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