Lebanese parliament approves 1998 budget

Lebanese parliament on Tuesday approved the 1998 budget with a 37.47 percent deficit, Parliament Speaker Nabih Berri said. Berri said 60 deputies voted for the budget, 21 voted against, nine abstained and 38 were absent out of a total of 128 members.

The 1998 budget pegs spending at 7,925 billion Lebanese pounds, of which (5.169 billion) Lebanese pounds as expenditures and revenues of 4,956 billion pounds.

"In principle nothing has changed (concerning revenue and spending figures)." Minister of State for Financial Affairs Fuad Siniora told reporters. The Lebanese parliament had been debating the budget since last Tuesday. Opposition deputies have expressed serious doubt that the government would stick to its forecast figures. It added that in 1997, the deficit reached 59 percent, well over the forecast 36 percent.