The Cabinet held a "very productive" session on Friday and the state budget is expected to be finalized on Monday, Industry Minister Wael Abu Faour said.

Foreign Minister Jebran Bassil meanwhile said that the Cabinet has not yet reached "the thorny articles which will require a lot of time."

The United States has reportedly appeased Lebanon’s fears about a security escalation in south Lebanon with Israel, al-Joumhouria daily reported on Friday.

As the government plans to implement austerity measures to slash the country’s ballooning budget deficit, Prime Minister Saad Hariri said there is an “opportunity to improve the economic situation,” stressing that the Lebanese Lira is doing “fine.”

Thousands of mourners from all over Lebanon flocked to Bkirki on Thursday to take part in the farewell ceremony of former Maronite Patriarch Cardinal Nasrallah Boutros Sfeir.

The funeral of the Patriarch began at 5:00 pm after the arrival of President Michel Aoun, Speaker Nabih Berri and Prime Minister Saad Hariri.

The U.S. Department of State paid condolences on Thursday for the passing of former Maronite Patriarch Nasrallah Butros Sfeir who will be laid to rest today.

“Patriarch Sfeir was a brave leader against tyranny and oppression. He spearheaded the notion of Lebanon’s sovereignty and independence,” the DoS said in a statement.

Diplomatic sources confirmed that the maritime border talks between State Department's acting assistant secretary for near eastern affairs, David Satterfeld with Lebanese officials reflected a "very positive" atmosphere paving way for a real opportunity to restore Lebanon's full sovereign rights and provide suitable conditions for extracting energy, the Saudi Asharq al-Awsat daily reported on Thursday.

The Lebanese Forces on Wednesday slammed what it called procrastination as the government failed anew to finalize its discussion of the 2019 draft state budget.

“Today we finalized all the legal articles related to the state budget which were raised during the previous sessions and we will hold another session Friday at 1:30 pm, during which the finance minister will submit a final report on the numbers of ministries and subordinate administrations,” Information Minister Jamal al-Jarrah said after a cabinet session.

The U.S. Embassy in Beirut on Wednesday warned U.S. citizens in Lebanon of “heightened tensions in the region,” urging them to “maintain a high level of vigilance.”

“The U.S. Embassy in Beirut advises all U.S. citizens of heightened tensions in the region. We strongly encourage U.S. citizens to maintain a high level of vigilance and practice good situational awareness,” the embassy said in a security alert published on its website.

President Michel Aoun held talks on Wednesday with Acting U.S. Assistant Secretary of State David Satterfield who arrived in Beirut on Tuesday, as Washington mediates a maritime border dispute with Israel.

Aoun and Satterfield discussed the bilateral relations between Lebanon and the US, and the latest developments on the local and regional arenas, the National News Agency reported.

Lebanon bids farewell on Wednesday to former Maronite Patriarch Nasrallah Boutros Sfeir, who died Sunday.