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This thread is about understanding #Budget 2020
Disclaimer: budget 2020 was planned before #October_Revolution and Covid-19.
Check it out!
Disclaimer: budget 2020 was planned before #October_Revolution and Covid-19.
Check it out!
The budget law is huge & complex. We tried to make it easy for you to navigate by creating a #citizenbudget. Check out the guide on: http://www.institutdesfinances.gov.lb/publication/citizen-budget-2020/
#CitizenBudget 2020 was prepared in partnership with #UNICEF, under the project “Enhancing Budget #Transparency, #Accountability and #Inclusiveness in Lebanon”
@UNICEF @SHagueUNICEF
@UNICEF @SHagueUNICEF
Full booklet is available in Arabic and English on: http://www.institutdesfinances.gov.lb/publication/citizen-budget-2020/
Keep scrolling!
Keep scrolling!
Let’s start by looking at how much Govt planned to spend & collect #revenues. Total Budget Spending 2020 is estimated at LBP 18,231 billion, 21% less than in 2019.
Note that Budget #Expenditures 2020 figures do not include LBP 1,500 billion LBP #treasury advances to #EDL & other treasury #Expenditures. Check the details in the picture
2020 planned #expenditures decreased significantly, of which (i) #debt_interest mainly due to the cut applied on #debt in LBP, (ii) transfers to #EDL that were capped at LBP 1 500 billion.
How are #budget #expenditures distributed across the main functions? @IMF
classification as per https://www.imf.org/external/pubs/ft/gfs/manual/pdf/all.pdf
classification as per https://www.imf.org/external/pubs/ft/gfs/manual/pdf/all.pdf
Largest share goes to General Public Services LBP 6,055 billion incl. #executive & #legislative (presidency, prime ministry’s services, parliament etc.) and others.
#Social_protection comes in 2nd place =LBP 4,985 billion (sickness, disability, unemployment, housing etc.). #Security & #Defense in 3rd place!
Check out the main expenditures in the below table.
#Salaries & #wages made up 50% of estimated #Budget #Expenditures 2020, followed by #interests_payment 24%, transfer to #EDL 8% and other current expenditures. #Treasury advances to #EDL were not included.
CAPEX reached a historic low at 2%, not exceeding 0.5% of GDP.
CAPEX reached a historic low at 2%, not exceeding 0.5% of GDP.
Where will the Money come from?
Budget #Revenues 2020 were estimated at LBP 13,395.9 billion - a decrease of approximately 30% compared to 2019. Non-tax revenues are generated by state-owned enterprises & fees such as passport fees, family register fees etc.
Budget #Revenues 2020 were estimated at LBP 13,395.9 billion - a decrease of approximately 30% compared to 2019. Non-tax revenues are generated by state-owned enterprises & fees such as passport fees, family register fees etc.
Most #revenues are expected from #taxes paid by citizens.
#VAT is the No 1 source (18% of total revenues), 25.6% comes from #telecom, #Casino_du_Liban, the #BdL, the #Port_of_Beirut, etc.
#VAT is the No 1 source (18% of total revenues), 25.6% comes from #telecom, #Casino_du_Liban, the #BdL, the #Port_of_Beirut, etc.
How much #revenue did Gvt expect to collect and how much did it effectively do in previous years?
Sharp drop in revenues were factored in due to #economic_recession.
Note: 2019 effective revenues figures are until October 2019.
Sharp drop in revenues were factored in due to #economic_recession.
Note: 2019 effective revenues figures are until October 2019.
2020 Budget #Deficit is estimated at LBP 4 836 billion. Adding #treasury_advance to #EDL & other treasury #expenditures increases total expected deficit to LBP 7 672 billion or 8.8% of GDP*.
*Based of the GDP estimates included in the 2020 pre-budget statement.
*Based of the GDP estimates included in the 2020 pre-budget statement.
Do you want to know more about the new measures for 2020? Check #Lebanon 2020#citizen budget https://bit.ly/34ivt7h
This great achievement would not have been possible without the support of our trusted partners always fostering our potential in advocating for #budget_literacy and #transparency in Lebanon
@SHagueUNICEF
@UNICEF
@imfcapdev
@XavierRame
@OpenBudgets
@SHagueUNICEF
@UNICEF
@imfcapdev
@XavierRame
@OpenBudgets
