The Lebanese Ministry of Finance has issued the 2014 draft budget. If compared with developed countries, the step is to be considered late, since budgets must be presented at the beginning of the year or the end of the previous year. However, in a country like Lebanon — which has been dealing with continuous institutional vacuums on the level of the government and presidency, and in which the process of budget ratification was never organized — the step seems, at first glance, positive and promising in terms of form. Yet, after examining the budget and its details, concerns overcome the positive aspects of the form.
The first comment, or rather surprise, is related to the $5.1 billion deficit, registering an increase of 20.6% from last year. This is startling, and prompts questions about whether those in charge of public affairs are aware of the seriousness of the economic situation and capable of solving the problem. It is a disaster if they are oblivious to the true nature of the problem, and a greater disaster if they are aware of it and are, nonetheless, still holding on to current spending policies and disregarding reform.
