Lebanese Cabinet Approved 2024 State Budget

Lebanese Cabinet Approved 2024 State Budget

BEIRUT, Sept 13 (NNN-NNA) – The Lebanese cabinet, yesterday, approved the 2024 state budget and submitted it to parliament.

“This is the first state budget to be approved within the constitutional timeframe since 2002, which is a major achievement,” Prime Minister, Najib Mikati, said at a press conference, adding, the budget deficit in 2024 is lower than that of previous years.

Mikati said, several reform laws must be passed, including a law for restructuring the public sector, a law for establishing a commission for specifying, coordinating and devising standards for the IT systems, a law to reform the customs administration, and a law to restructure the banking sector.

The reduction of the state deficit and the adoption of reform laws are among the conditions set down by the International Monetary Fund, to unlock aid for crisis-hit Lebanon.

Lebanon has been suffering from an unprecedented financial crisis, which leads to the loss of billions of dollars in deposits, and the collapse of the Lebanese pound.– NNN-NNA


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