Lebanese lawmakers pass country's 1st state budget in over a...| MENAFN.COM

Sunday, 05 February 2023 11:16 GMT

Lebanese lawmakers pass country's 1st state budget in over a decade


(MENAFN- Kuwait News Agency (KUNA)) BEIRUT, Oct 19 (KUNA) -- Lebanese lawmakers passed the country's first state budget in over a decade Thursday after holding a three-day legislative session headed by Speaker Nabih Berri.

The budget made its way towards approval through 61 'Yea' MPs.

Deficit in the 2017 budget was USD 4.86 billion, with expected growth of two percent by the end of year, noted Ali Hassan Khalil, the finance minister in a press release.

Successive governments have failed to pass annual budgets due to a string of political crises since the 2005 assassination of former prime minister Rafik Al-Hariri.

Passing a budget was a priority for Prime Minister Saad Al-Hariri's government, which took office in January 2017 and is a vital and long overdue step towards reforming Lebanon's fragile economy and preventing rising debt spinning out of control. (end) wsm.hb

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