Jan 10 2011 |
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E.D.L. sees decline in 2010 treasury transfers
10 January 2011
BEIRUT: Treasury transfers to Electricite du Liban ( E.D.L. ) totaled $1.06 billion in the first 11 months of 2010, representing a 22 percent decrease from the same period of 2009. It said that the decline was due to a drop in payments to Lebanon’s two major oil suppliers, Kuwait Petroleum Corporation (K.P.C.) and the Algerian energy conglomerate Sonatrach . The Lebanese energy sector has seen a 27 percent drop in imported quantities as well as a decrease in international energy prices. E.D.L. transfers were expected to reach 16 percent of primary expenditures in 2010, a 4.7 percentage point drop from 2009. E.D.L. is the third largest expenditures item after debt servicing and salaries and wages. – The Daily Star
© Copyright The Daily Star 2011.
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