Gemayel Criticizes New 2019 State Budget
Kataeb party chief Sami Gemayel on Friday criticized the 2019 state budget saying it will trigger an “economic stagnation” and affect the people’s “purchasing power.”
“Taxes will hit the entire Lebanese, and the %2 increase imposed on imports will lead to an increase in the overall prices,” said Gemayel during a press conference at the party's headquarters in al-Saifi.
Gemayel said the new budget violates the constitution in terms of respect for deadlines and the accounting records.
“The budget as presented includes flagrant violations of the constitution, and includes wrong figures” he said, lamenting any government measures to boost the economy instead of imposition of taxes.
Last week, Lebanon's government approved a long-awaited austerity budget aimed at rescuing an economy crumbling under massive debt and unlocking billions in international aid.
The new budget is expected to trim Lebanon's deficit to 7.59 percent of gross domestic product -- a nearly 4-point drop from the previous year.
The draft budget still needs to be approved by parliament.
Source: Naharnet
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