The ministry said that the total fiscal balance registered a deficit of LL812 billion compared to a deficit of LL993 billion in the same period of 2007.

"This improvement in the fiscal deficit is due to better total receipts [or revenues] of LL355 billion, which offset the LL174 billion increase in total payments," the ministry said in a statement.

It added that the increase in total revenues was due to improvements in all types of revenues. "In fact, tax revenues were up by LL149 billion mainly due to the stronger performance of income taxes, taxes on property, domestic taxes on goods and services, and fiscal stamp fees - despite a deterioration in taxes on international trade, namely in the collection of excise duties on fuel due to rising international fuel prices," the statement said.

It added that that custom duties, tobacco and car excises have witnessed substantial rises in collection rates.

Non-tax revenues also achieved an amelioration of LL36 billion as a result of higher transfers from Casino du Liban and the telecom surplus.

It added that no transfers were recorded from Port of Beirut, the national lottery and th Banque du Liban for the first quarter of 2008. Finance minister Jihad Azour told The Daily Star the delays were the result of staffing changes and other technical issues and that the transfers were expected to be reflected in the next quarter. - Daily Star