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Lebanon's 2027 Budget Relies on Goods and Services Taxes
The 2027 budget in Lebanon is on track to be approved on time according to the constitutional schedule, despite the significant economic and financial challenges facing the country, including the war with Israel, the collapse of the banking sector, and the government's stagnation since 2020. The budget relies on increasing tax revenues by nearly 20%, with fees on goods and services accounting for 73.5% of total revenues. Meanwhile, salaries and wages make up more than half of the expenditures (53.5%). However, challenges such as tax evasion, a "cash-based" economy, and the deterioration of public debt raise questions about the budget’s ability to address underlying structural imbalances in public finances and achieve real economic sustainability, rather than merely managing the crisis.
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