Lebanon's parliament was still engaged Wednesday in a prolonged debate of the 2001 fiscal budget draft bill, which is expected to be passed by parliament Thursday, said Lebanon Times.
The three-day debate, which started Monday, could lead to changes in the draft bill that was approved by Cabinet earlier this year, said the paper.
The biggest worry of the MPs, who started a hot session on Monday, is the forecast fiscal deficit of 51 percent for 2001 that will increase Lebanon’s public debt beyond 150 percent of the Gross Domestic Product.
Finance Minister Fouad Siniora told parliament the debt will rise to $27.5 billion by year-end, it added.
According to the online news service, in the draft bill the government is also asking parliament to approve a $2 billion borrowing program that is essential to financing the budget, noting that the cost of servicing the public debt is the single biggest expenditure item in the draft bill – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
