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.