News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
22
o
Mount Lebanon
23
o
Metn
22
o
Keserwan
22
o
North
25
o
South
23
o
Bekaa
25
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Morning Talk
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
22
o
Mount Lebanon
23
o
Metn
22
o
Keserwan
22
o
North
25
o
South
23
o
Bekaa
25
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Aoun vows to tend to economic, financial reforms
Breaking Headlines
2019-08-18 | 13:57
High views
Share
Share
4
min
Aoun vows to tend to economic, financial reforms
Lebanon is expected to begin implementing in October a set of economic and financial measures agreed by its top leadership that will boost economic growth, President Michel Aoun said on Sunday, vowing that he would to tend to this himself.
He was referring to decisions taken at a top-level meeting earlier this month with the aim of reviving an economy that has been growing slowly for years and is struggling with one of the world's heaviest public debt burdens.
After the Aug. 9 meeting, Prime Minister Saad Hariri said agreed steps included finishing the 2020 budget on time, drawing up a plan to start $3.3 billion of projects approved by parliament, full implementation of a power sector reform plan, and laws to fight tax evasion and regulate public tenders.
"I will personally tend to the implementation path of the decisions of the financial and economic meeting" in cooperation with Prime Minister Saad al-Hariri, Parliament Speaker Nabih Berri and other parties in government, Aoun said.
In written comments to Reuters, Aoun said this aimed "to guarantee political stability in cabinet and outside it and to secure the greatest amount of productivity", including in the implementation of the 2019 budget and its reforms.
Aoun said he expected "the implementation path" to begin "with the start of October after the conclusion of the current preparations ... which will lead to lifting of the growth rates, reflecting positively on the economic and financial situations".
After years of backsliding on economic reform, the impetus to act has grown due to economic stagnation and a slowdown in the flow of dollars into Lebanon's banks from abroad. Lebanon has depended on such flows from its diaspora to finance the current account and the state budget deficits.
Foreign governments and donor institutions last year pledged $11 billion in financing to Lebanon for major infrastructure at the so-called Cedre conference in Paris, on condition that it carries out reforms.
Measures to reduce the budget deficit and reform the power sector, which bleeds public funds while inflicting daily power cuts on Lebanese, are seen as two vital tests of the government's ability to reform.
The International Monetary Fund said in July this year's deficit is likely to be well above a targeted 7.6% of national output.
It said the power reform plan and a budget to reduce the deficit were "very welcome first steps" and "further substantial fiscal adjustment and structural reforms" were needed.
Aoun said work was underway to approve the 2020 budget in the constitutional timeframe.
It would include "new, resolute reforms" agreed at the Aug. 9 meeting to reduce the power sector deficit, improve tax collection and fight customs and tax evasion.
Aoun also said frameworks must be put in place for implementing a plan drawn up by management consulting firm McKinsey for revamping the economy and this should coincide with the start of projects outlined at the Cedre conference.
REUTERS
Breaking Headlines
Aoun
Lebanon
Economy
Next
Grand Mufti Derian travels to Saudi Arabia for Hajj
Recommended For You
d-none hideMe
0
Middle East News
2024-04-25
Over 430 settlers storm Al-Aqsa Mosque on third day of Passover holiday: Al Jazeera reports
Middle East News
2024-04-25
Over 430 settlers storm Al-Aqsa Mosque on third day of Passover holiday: Al Jazeera reports
0
Lebanon News
2024-04-23
Hezbollah announces launching 'dozens of rockets' at Israel in response to civilian deaths
Lebanon News
2024-04-23
Hezbollah announces launching 'dozens of rockets' at Israel in response to civilian deaths
0
Lebanon News
2024-04-21
Breaking: Israeli airstrike hits Naqoura, reports NNA
Lebanon News
2024-04-21
Breaking: Israeli airstrike hits Naqoura, reports NNA
0
Lebanon News
2024-04-21
Shelling from Lebanon hits Western Galilee: Israeli Channel 12 reports
Lebanon News
2024-04-21
Shelling from Lebanon hits Western Galilee: Israeli Channel 12 reports
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
03:53
Bilal Abdallah to LBCI: No significant Western action to curb Israeli aggression in south Lebanon
Lebanon News
03:53
Bilal Abdallah to LBCI: No significant Western action to curb Israeli aggression in south Lebanon
0
News Bulletin Reports
2024-02-21
Rising costs: An in-depth look at fee hikes in Vehicle Registration Center (Nefaa) services
News Bulletin Reports
2024-02-21
Rising costs: An in-depth look at fee hikes in Vehicle Registration Center (Nefaa) services
0
World News
2024-04-02
France seeks UNSC resolution for Gaza truce monitoring
World News
2024-04-02
France seeks UNSC resolution for Gaza truce monitoring
0
Israel-Gaza War Updates
03:51
Al-Qassam Brigades targets Israeli military site from southern Lebanon
Israel-Gaza War Updates
03:51
Al-Qassam Brigades targets Israeli military site from southern Lebanon
Videos
d-none hideMe
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
News Bulletin Reports
12:25
France's diplomatic efforts: Calming the Lebanese-Israeli border
News Bulletin Reports
12:25
France's diplomatic efforts: Calming the Lebanese-Israeli border
2
Israel-Gaza War Updates
05:15
Palestinian President: Only US can prevent Israeli attack on Rafah
Israel-Gaza War Updates
05:15
Palestinian President: Only US can prevent Israeli attack on Rafah
3
Lebanon News
07:17
Berri to Séjourné: Lebanon is committed to implementing Resolution 1701
Lebanon News
07:17
Berri to Séjourné: Lebanon is committed to implementing Resolution 1701
4
Israel-Gaza War Updates
06:03
Hamas official: Hamas delegation to visit Cairo on Monday for Gaza ceasefire talks
Israel-Gaza War Updates
06:03
Hamas official: Hamas delegation to visit Cairo on Monday for Gaza ceasefire talks
5
Israel-Gaza War Updates
00:53
Hamas official to AFP: 'No major issues' in movement's comments on ceasefire proposal
Israel-Gaza War Updates
00:53
Hamas official to AFP: 'No major issues' in movement's comments on ceasefire proposal
6
Israel-Gaza War Updates
05:49
Gaza Health Ministry: 34,454 Palestinians killed in Israeli attack since Oct. 7
Israel-Gaza War Updates
05:49
Gaza Health Ministry: 34,454 Palestinians killed in Israeli attack since Oct. 7
7
News Bulletin Reports
12:28
Voicing solidarity: Wave of pro-Palestinian student protests sweeps across US universities
News Bulletin Reports
12:28
Voicing solidarity: Wave of pro-Palestinian student protests sweeps across US universities
8
Israel-Gaza War Updates
12:21
World Central Kitchen to resume Gaza aid after staff deaths in Israeli strike
Israel-Gaza War Updates
12:21
World Central Kitchen to resume Gaza aid after staff deaths in Israeli strike
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More