As Lebanon mulls austerity measures to slash its ballooning budget deficit, President Michel Aoun insists the 2019 state budget draft gets discussed in Cabinet during its upcoming meeting next week on Thursday, said al-Joumhouria daily on Friday.Full Story
MP Ibrahim Kanaan on Thursday said the state budget draft “must be discussed in Cabinet,” stressing that discussions must be conducted within the constitutional institutions.Full Story
In the midst of street protests rejecting the possibility of salary cuts of state employees as part of austerity measures to reduce a ballooning budget deficit, economic experts say the measure would reduce the deficit but could also trigger an economic recession, al-Joumhouria daily reported on Thursday.
Public sector employees fear that the reduction of the budget deficit will come at their expense by deducting a percentage of their wages which increased after the government approved a long awaited wage scale.Full Story
President Michel Aoun on Thursday met with British Chief of Staff, General Sir Nick Carter at the Presidential Palace in Baabda, the Presidency media office said on Twitter.Full Story
Telecommunications Minister Mohammed Shuqeir warned of the consequences should Lebanon’s officials fail to take “the right decision to save the country,” al-Joumhouria daily reported on Thursday.Full Story
France has renewed calls on Lebanon through the French Ambassador to Lebanon Bruno Fouche to implement strict austerity measures to reduce a ballooning budget deficit and massive national debt, al-Joumhouria daily reported on Thursday.Full Story
The Parliament passed on Wednesday amendments necessary to implement an ambitious plan to restructure the country's crumbling electricity sector.
Restructuring the power sector, dysfunctional since Lebanon's 1975-90 civil war, has been among key demands for reforms by the World Bank and international donors.Full Story
Prime Minister Saad Hariri warned Wednesday that Lebanon is heading toward an economic "catastrophe" unless the government implements strict austerity measures to reduce a ballooning budget deficit and massive national debt.
The stark warning came shortly after parliament passed amendments necessary to implement an ambitious plan to restructure the country's crumbling electricity sector. Restructuring the power sector, dysfunctional since Lebanon's 1975-90 civil war, has been among key demands for reforms by the World Bank and international donors.Full Story
Lebanese University teachers, civil servants and the Union Coordination Committee staged a sit-in on Wednesday protesting a government’s proposal to cut their wages as part of measures to reduce spending and slash the budget deficit.Full Story
Finance Minister Ali Hassan Khalil conducted a comprehensive review of the 2019 state budget after extended meetings with Prime Minister Saad Hariri, the most recent was late on Tuesday in the Center house, in the presence of all political factions represented in the government, al-Joumhouria daily reported on Wednesday.Full Story