Lebanon’s Budget Gap Narrows to 3.53 Trillion Pounds in 2011

Lebanon’s budget deficit narrowed in 2011 because of increased revenue from telecommunications.

The shortfall narrowed to 3.53 trillion Lebanese pounds ($2.3 billion) from 4.36 trillion pounds the previous year, the Ministry of Finance said in an e-mailed statement.

The ministry included estimated revenue of 2.26 trillion pounds from the Telecommunications Ministry in its calculations, up from 957 billion pounds a year earlier.

To contact the reporter on this story: Massoud A. Derhally in Beirut, Lebanon, at mderhally@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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