Information Minister: Lebanon Is Likely to Approve Budget before End of February

Beirut, - Lebanese Minister of Information Melhem Riachi said that Lebanon is likely to approve the state budget before the end of February.

In statements to Qatar News Agency , Riachi stressed the importance to approve the 2017 budget, after 12 years of absence of budget.

He noted that the Lebanese cabinet will hold three sessions until next Friday to discuss the matter.

Lebanon did not approve a state budget since 2005 amidst deteriorating fiscal situation. The country is bur-dened more that $73 billion in public debt and an annual $4 billion budget deficit. Its gross domestic product is estimated at $44.35 billion and its annual growth at 1-1.5% in recent years.

The Lebanese cabinet is scheduled to hold a session later today to follow up discussion on the 2017 draft budget.

Source: Qatar News Agency