Lebanon draft budget includes 5.25 trln Lebanese pound advance for state-owned power company

The skyline of Beirut is seen from Dbayeh, Lebanon, October 10, 2021. REUTERS/Mohamed Azakir

Jan 21 (Reuters) - Lebanon's draft budget for 2022 includes an advance for the state-owned power company of up to a maximum of 5.25 trillion Lebanese pounds, according to a copy of the draft seen by Reuters.

The advance to be used by Electricity of Lebanon to pay off a fuel purchase deficit, interest and loans instalments.

Lebanon is mired in a financial crisis that left the country struggling to find enough foreign exchange to pay for fuel and can only now delivers a few hours a day of electricity at best.

Reporting by Laila Bassam, Writing by Nayera Abdallah; Editing by Alex Richardson

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