Finance Minister Ali Hassan Khalil said in a press conference held on Wednesday that "the 2020 state budget does not include any new taxes because people can no longer tolerate that. The State must continue to work, and there should be a follow-up on laws and decrees complementary to the general budget."
"We are continuing the same approach adopted in the 2019 budget, in a bid to reduce deficit, or at least maintain what has been achieved, without overestimating the reduction of expenditures, and while working to secure additional resources," the minister said.
"Therefore, the figures presented in the 2020 budget are realistic, provided that there is no additions in the budget, so it could pass smoothly in the House of Representatives," Khalil went on to say, stressing that "the pressure on our economy is immense, and growth has returned to zero if not negative. This has doubled the pressure on the Central Bank."
Assuring that the 2019 Budget was praised by International parties, Khalil stressed that "we will proceed from the current deficit rate and will try to maintain it in the budget of 2020."
Khalil said "our aim is to increase the confidence of the Lebanese in the State through achieving an acceptable growth rate. This requires a return to the law and good management of public finances. Regulators are highly concerned with this matter. We must also restore State rights by restoring the management of public utilities.”
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