Mikati hails 'achievement' as govt. approves 2024 budget

The caretaker Cabinet on Tuesday approved the 2024 state budget and submitted it to parliament, with caretaker Prime Minister Najib Mikati calling the move an “achievement.”

“This is the first state budget to be approved within the constitutional timeframe since 2002 and this is a major achievement and heroism,” Mikati said at a press conference.

“The budget is acceptable and there was full unanimity in Cabinet over endorsing it,” Mikati added.

Moreover, the premier said that there are reformist laws that should be passed and that committees led by caretaker Deputy Prime Minister Saade al-Shami will be formed for this purpose.

“The laws are the unifiex income tax law; the public accounting law; the restructuring of the public sector and public administrations; establishing a commission for specifying, coordinating and devising the standards for the state’s IT systems; and reforming the Customs administration,” Mikati said.

He added: “What happened today is a positive step, but it is not sufficient, and we must follow up with parliament to approve all the present laws, topped by the banks restructuring plan.”

Mikati also pointed out that “the deficit in this state budget is lower than in any other years,” but that “in fact the monetary surplus is bigger than the cash deficit.”