During 2017, Lebanon’s gross public debt hit $3.76 billion.
During the first half of 2018 only, the gross public debt grew by $3.4 billion, vs $1.6 billion in the same period of 2017.
Overall, Lebanon’s gross public debt rose by 4.3 percent to $82.95 billion in the first six months of 2018 compared to $79.95 billion in the same period of last year [Source].
The reason for that hike is mainly due to the public sector’s salary hike bill which was passed last year (and shouldn’t have) and the recent gridlock around the formation of a government is definitely not helping improve the economic status. Instead of reducing the number of government employees and cutting down on the expenses, they gave everyone a promotion! And some people still believe those in power want to make reforms and put Lebanon back on the right t