U.N. Coordinator Welcomes Cabinet's Approval of Budget
U.N. Special Coordinator for Lebanon Jan Kubis on Monday welcomed the Lebanese Cabinet’s endorsement of the 2019 draft state budget, hoping that following a “thorough review” by the Parliament it will be adopted “as quickly as possible.”
“The adoption of the 2019 budget creates an opportunity to take initial measures to reduce the deficit. It is also an opportunity to start introducing necessary reforms in a politically-, economically- and socially-sustainable way as a part of the broader effort towards revitalizing good governance, accountability, investment and job creation,” Kubis said in a statement distributed by his office.
Kubis noted “pledges of constitutional and political leaders in Lebanon to continue working together for a fiscally-responsible pro-reform budget in the spirit of shared responsibility and social justice,” hoping the new budget would put in motion a series of reforms.
“Such internal reforms, identified by Lebanon as necessary, are needed to help the country succeed in providing a stable, sustainable, dignified and prosperous future for its people. These reforms aiming at building a well governed, accountable, transparent and resilient State and institutions in service of its citizens are in line with Lebanon’s commitment at the CEDRE conference and have the full support of Lebanon’s international partners,” Kubis added.
The Cabinet on Monday approved the 2019 draft state budget after weeks of haggling, referring it to Parliament.
Lebanon has vowed to slash public spending to unlock $11 billion worth of aid pledged by international donors during an April 2018 conference in Paris.
Last month, Prime Minister Saad Hariri vowed to introduce "the most austere budget in Lebanon's history" to combat the country's bulging fiscal deficit.
Lebanon is one of the world's most indebted countries, with public debt estimated at 141 percent of GDP in 2018, according to credit ratings agency Moody's.
Source: Naharnet
| Copyright © 2012 Naharnet.com. All Rights Reserved. | https://cdn.naharnet.com/stories/en/260743 |