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Lebanon to seek more cuts in 2020 budget targeting power subsidy

  • The coalition government agreed a 2019 budget with a projected deficit of 7.6% of gross domestic product (GDP), down from 11.5% last year, but it must still be approved by parliament
  • Lebanon has one of the world’s highest debt burdens, equivalent to about 150% of GDP, and electricity subsidies cost 3.5%-4% of GDP a year
By Reuters ·