Lebanonâ€™s budget deficit for 2010 slipped slightly by LL57 billion ($38 million) to reach 25.78 percent of spending, or LL4.405 trillion, compared to 25.99 percent, or LL4.462 trillion, in 2009, the Finance Ministry said Thursday. [DailyStar]
That’s good news to start the day with. Our debt has increased by a tiny margin, smaller than last year’s reaching “only” 4.405 trillion LBP and leaving the debt amounting to around 55$billion dollars.
The Total government expenditures in 2010 reached LL17.89 trillion compared to LL17.167 trillion in 2009. I wonder where those additional expenditures are going cause I don’t see any changes anywhere.
So what does 1 trillion Lebanese pounds look like? That’s how 1 trillion dollar bills look like. Imagine them x4 and you have an idea of how much money we owe.
Just a few clarifications here:
Some numbers look a bit off, the deficit should be closer to $3 billion (http://www.wolframalpha.com/input/?i=4.405+trillion+lbp+into+usd)
Also, our debt hasn’t really decreased, that 4.405 trillion LBP is the budget deficit (rev-exp), so our debt has actually increased by LBP 4.405 trillion, but it has increased by LESS than last year (4.462). So it’s still good news 😛
maybe if we can get back 1/2 of what’s been stolen by politicians, friends and neighbors, we could settle the deficit tomorrow.
The only way we’re going to afford to pay the debt back is if we just print the damn money and ship it off.. The hell with economic consequences 😛
Thanks for the clarifications, that’s what I understood but I posted it wrong 🙂
Daaaaaaaaaaaaayyyymmmnn.. That’s a lot of money!