Jumblat: Finalizing Budget More Important than Futile Debate

Progressive Socialist Party leader ex-MP Walid Jumblat on Thursday called for finalizing the stalled 2019 state budget.

Lamenting that the PSP's recommendations on seaside properties and a progressive taxing system were rejected by the majority of political forces, Jumblat tweeted that “finalizing the budget is more important than impeding it or engaging in a futile and obstructive debate.”

“It's about time we reached a result in order to discuss the 2020 budget,” he urged.

The Cabinet has held around 17 sessions to finalize the budget and several parties have accused Foreign Minister Jebran Bassil of hindering the discussions with side proposals.

Lebanon has vowed to slash public spending to unlock $11 billion worth of aid pledged by international donors during an April 2018 conference in Paris.

Last month, Hariri vowed to introduce "the most austere budget in Lebanon's history" to combat the country's bulging fiscal deficit, sparking fears among public sector employees that their salaries may be cut.

Lebanon is one of the world's most indebted countries, with public debt estimated at 141 percent of GDP in 2018, according to credit ratings agency Moody's.