Khalil Says Ministry Embarked on 2020 Budget
Finance Minister Ali Hassan Khalil hailed the government’s and parliament’s efforts leading to the ratification of the 2019 state budget, stressing that his ministry has started preparations for the 2020, al-Joumhouria daily reported on Saturday.
“What has been achieved is very important, but this budget basically does not satisfy our ambitions for an “emergency” budget required by the Lebanese situation. However, the form it has been endorsed with is the best available based on which we can build to prepare a better 2020 budget,” said Khalil.
Despite critics doubting the budget’s efficacy, Khalil is still hoping it would have a positive shock at the interval level, “we have made an important achievement demonstrated in the ability to reduce the deficit from more than 11 percent to within 7 percent. Further reduction and growth will be our main objective in the next budget,” said the minister.
He pointed out that after the completion of the draft budget for 2019 the Ministry of Finance began preparation of the draft budget 2020, and issued a circular to all public departments and institutions in that regard.