| Description |
1 online resource (33 pages) : color illustrations |
| Series |
IMF working paper ; WP/14/193 |
|
IMF working paper ; WP/14/193.
|
| Contents |
Cover; Abstract; Table of Contents; I. Introduction; Figures; 1. Proven Natural Gas Reserves; 2. Average Effective Tax Rate for Selected Petroleum Producing Countries; II. Principles of Fiscal Framework Design in Commodity-Producing Countries; 3. Fiscal Policy in Commodity-Producing and Non-Commodity Producing Countries; A. Fiscal regime; B. Macro-fiscal anchor; C. Supporting fiscal institutions; III. Options for Lebanon's Fiscal Regime; A. Evaluating fiscal regime options for Lebanon; Tables; 1. Assumed Fiscal Parameters for Fiscal Regime Options |
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4. Government Revenues under Fiscal Regime Options5. AETR under Fiscal Regime Options; 6. Government Share of Total Benefits under Fiscal Regime Options; B. International comparisons; 7. Breakeven Price and METR under Fiscal Regime Options; 8. International Comparisons; IV. Options for Lebanon's Macro-Fiscal Anchors; A. Ensuring sustainability; 9. Production Profile; 10. LNG Revenues; 11. PIH Framework Results; 12. Modified PIH Framework Results; 13. Fiscal Sustainability Framework Results; B. Managing volatility; 14. Production Profile; 15. LNG Revenues |
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16. Price-Based and Structural Balance Framework Results17. Price-Based Structural Balance Results; C. Selecting among options; V. Strengthening Lebanon's Institutions; 18. Price-Based Structural Balance with Spending Rule Results; VI. Conclusions and Policy Implications; Bibliography |
| Summary |
Lebanon is expected to have gas resources in its Mediterranean basin, and these could turn the country into a natural gas producer over the next decade. Lebanon's economy and institutions will thus need to adapt to the challenges and opportunities that such change will bring. In this paper, we address how Lebanon's fiscal framework will need to be reformulated to take into account potential resource revenue. Designing a fiscal regime appropriately is an absolute prerequisite to make sure the government can receive a fair share of the resources while investors face appropriate incentives to invest and develop the sector. This step should be followed by setting macro-fiscal anchors and supporting institutions. The prospective framework should initially be focused on ensuring fiscal sustainability and intergenerational equity, given the estimated relatively short horizon of Lebanon's gas resources. Strong institutional arrangements also need to underpin the prospective framework, to ensure that the pace of resource wealth's use is set in line with Lebanon's capacity constraints. --Abstract |
| Notes |
"October 2014." |
|
"Middle East and Central Asia Department." |
| Bibliography |
Includes bibliographical references (pages 31-33) |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed October 29, 2014) |
| Subject |
Natural resources -- Lebanon
|
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Fiscal policy -- Lebanon
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Natural resources -- Lebanon -- Management
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Revenue management -- Lebanon
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Fiscal policy
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Natural resources
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Natural resources -- Management
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Revenue management
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Lebanon
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| Form |
Electronic book
|
| Author |
Mesa Puyo, Diego, author.
|
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Nakhle, Najla, author.
|
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International Monetary Fund. Middle East and Central Asia Department, issuing body.
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| ISBN |
9781498333061 |
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1498333060 |
|
