Lebanon’s budget deficit for 2019 is equivalent to 11.4 percent of GDP, the country’s Information Minister Manal Abdel Samad said on Tuesday.
Lebanese officials had projected a budget deficit for 2019 of less than 9 percent of GDP but later said the figure would likely end up higher because of the country's deep economic crisis.
Read more:
Lebanon’s dollar reserves critically low: Economists
Lebanon PM Diab says government can’t pay its debt, suspends March bond paymen
Also Read
-
Lebanon’s wealth destroyed as country defaults on Eurobond
The Lebanese government defaulted on its debt on Monday, failing to make a $1.2 billion Eurobond payment. With no clear restructuring plan in sight, ... Middle East -
Lebanon’s dollar reserves critically low: Economists
Lebanon may not have been facing a dire choice between paying its foreign creditors and buying bread as suggested by Prime Minister Hassan Diab, but ... Economy -
Lebanon waiting to see if creditors will cooperate or ‘go legal’: Minister
Lebanon is waiting for bondholders to decide whether they will cooperate in a debt restructuring or pursue legal action against the country following ... Economy -
Lebanon’s Eurobond default: Here’s what happens next
Lebanon announced its decision on Saturday to default on payment of the $1.2 billion Eurobond maturing on March 9, an unprecedented move for a country ... Features
