Jul 19 2011 |
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Lebanon Tsy Transfers To Elec Co. Up LBP141B In First 5 Mos-Report
Tuesday, Jul 19, 2011
BEIRUT (Zawya Dow Jones)--The Lebanese treasury's transfers to the country's state-owned electricity company rose to 947 billion Lebanese pounds ($625.1 million) in the first five months of 2011 from LBP806 billion in the year earlier period, Beirut-based Al Mustaqbal daily reports Tuesday citing official data.
The LBP141 billion rise in transfers to Electricite du Liban, or EDL , was mainly the result of an increase in payments for imports of fuel oil, gas oil, and natural gas from Kuwait, Algeria, and Egypt due to rising oil prices, Lebanon's finance ministry said according to the paper.
The increase in transfers to EDL was also driven by a LBP6 billion rise in debt service payments, the ministry added.
Newspaper website: http://www.almustaqbal.com/stories.aspx?StoryID=476786
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
19-07-11 0739GMT
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