Progressive Socialist Party leader ex-MP Walid Jumblatt on Saturday said in its quest to formulate an austere state budget, the government has unveiled “treasures” of squandered public funds that have for decades been protected with secrecy, al-Joumhouria daily reported.

Lebanon renewed “requests” from the United States to pursue “mediation” with Israel to demarcate the maritime border in order to preserve its oil wealth right, mainly the border oil field Block 9 which Lebanon fears that Israel could steal, Asharq al-Awsat newspaper reported on Saturday.

Dozens of Lebanese military and security veterans burned tires and shouted angrily outside government offices on Friday, their second protest in less than two weeks amid fears a proposed austerity budget may affect their pensions and benefits.

The protesters gathered in downtown Beirut as ministers met to discuss a budget bill that aims to cut public spending and tackle a national debt that stands at more than 150% of GDP. They denounced leaked reports of cuts to their pensions, calling on the government to address corruption instead.

The Cabinet approved an increase in tax on bank deposits on Friday during a session chaired by Prime Minister Saad Hariri at the Grand Serail.

Foreign Minister Jebran Bassil on Friday said in a press conference that Lebanese Diaspora Energy (LDE) annual conference would be a "quality leap", confirming that this year will cover various economic topics.

"This conference comes at a time when Lebanon endures a tough economic stage, especially with the formulation of a budget that reflects a real intention to change and launch an economic revival movement," Bassil said.

State employees and military retirees renewed their protests on Friday and kicked off sit-ins in Riad al-Solh Square denouncing possible salary cuts as part of austere budget measures planned by the government.

Two individuals were injured when a personal armed dispute erupted at midnight in the town of Aramoun in Aley, LBCI TV station said on Friday.

Speaker Nabih Berri warned the government “not to refer the state budget draft to the parliament” if it fails to reduce the budget deficit to “9% or even less,” al-Joumhouria daily reported on Friday.

The Cabinet held another meeting on Thursday to discuss the 2019 state budget and it was chaired by Prime Minister Saad Hariri at the Grand Serail.

The terrorism trial of eight Lebanese Shiites detained in the United Arab Emirates is unfair and based on fabricated confessions obtained under torture, Amnesty International said Thursday.