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by Executive Editors

More extra-budgetary spending Lebanon’s Council of Ministers agreed to approve extra budgetary spending of LL11.5 trillion ($7.7 billion) for the rest of the year, a 12 percent increase on LL10.3 trillion ($6.9 billion) that had been agreed earlier in June. Lebanon has been without a budget since 2005 and the debate over extra-budgetary spending has severely hampered the government’s ability to function. Despite attempts from the opposition to block the cabinet’s decision it is believed that President Michel Sleiman has agreed to sign into law the overspending bill even if it is not passed in parliament. The released figures show that the government allocated LL1.79 trillion ($1.19 billion) for salaries and wages, LL4.23 trillion ($2.82 billion) for subsidies and transfers LL1.47 trillion ($980 million) for debt servicing and financial charges. The cabinet also took a decision to allocate LL150 billion ($100 million) to development projects in Tripoli and LL450 billion

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