hariri warns of budget failure cost to lebanons economy

Hariri warns of budget failure cost to Lebanon’s economy

Middle East

BEIRUT: Prime Minister Saad Hariri said on Monday Lebanon was far from bankruptcy but failure to pass a “realistic” budget that brings down the state deficit would be tantamount to a “suicide operation” against the economy.
Hariri also said once the new budget is approved, financial institutions would raise Lebanon’s sovereign ratings, and criticised “preemptive” strikes by public sector workers who fear their salaries and benefits will be cut.
He was speaking in televised comments after a meeting with President Michel Aoun and Parliament Speaker Nabih Berri. The government is debating the draft budget.

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