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Lebanon’s public debt seen to reach $65bn next year

Lebanese finance ministry has said the country's public debt is expected to swell to $65bn in 2014, despite the introduction of new taxes, The Daily Star has reported. "We estimate that the public debt will reach $61bn in the end of 2013 and $65bn in 2014," caretaker minister, Mohammad Safadi, told the daily. "The $4bn increase in the debt is due to projected growing spending. The introduction of salary scale is one of the reasons for the surge in the debt. Even if we applied new taxes next year, the debt will still end with $65bn in 2014," Safadi said.