Lebanon’s cabinet postpones final budget meeting

After decades of civil war and repeated political crises made it one of the world’s most indebted countries, Lebanon is drafting its “most austere” budget to secure billions of dollars in international aid. (File/AFP)
Updated 15 May 2019

Lebanon’s cabinet postpones final budget meeting

  • Lebanon is drafting its 'most austere' budget to secure billions of dollars in international aid
  • The small Mediterranean country has promised donors to slash public spending as part of reforms to unlock $11bn in aid pledged at a conference in Paris last year

BEIRUT: Lebanon’s cabinet delayed until Friday its last session on the 2019 draft budget, a minister said, pushing back a critical meeting to finalize plans for cutting the deficit.
Lebanon has one of the heaviest public debt burdens in the world, and long-stalled reforms are seen as more pressing than ever after years of low economic growth.
President Michel Aoun, in a speech late on Tuesday, urged the Lebanese to end protests and make sacrifices to rescue the country from economic and financial crisis.
Prime Minister Saad Al-Hariri has said this may be the most austere budget in Lebanon’s history.
Ministers who convened on Wednesday afternoon had been due to meet again at night to agree the budget before sending it to parliament for approval.
“There will be no second session tonight,” Health Minister Jamil Jabak told reporters at the Grand Serail, the government headquarters in Beirut.
Parliament Speaker Nabih Berri called for speeding up efforts to complete the budget, lawmakers from his Amal Party cited him as saying after a meeting.
Fears that the budget will include wage or pension cuts have sparked protests by public sector workers and retired soldiers.


UN chief will work with new Lebanon government on reforms

Updated 22 min 25 sec ago

UN chief will work with new Lebanon government on reforms

  • Guterres’ spokesperson said the United Nations was committed to supporting “Lebanon’s strengthening of its sovereignty, stability and political independence”
  • Lebanon formed a new government under Prime Minister Hassan Diab

BEIRUT: UN Secretary General Antonio Guterres welcomed the formation of a new Lebanese government on Tuesday and will work with the new premier to support reforms in the heavily indebted country grappling with an urgent economic crisis.
A statement issued by Guterres’ spokesperson also said the United Nations was committed to supporting “Lebanon’s strengthening of its sovereignty, stability and political independence.”
Lebanon formed a new government under Prime Minister Hassan Diab after the Shiite Hezbollah movement and its allies agreed on a cabinet after weeks of wrangling over portfolios.