REPORT: What are the potential sources for financing the pay scale?

The cabinet has so far chosen, from around 30 sources of revenues to fund the pay scale, a few options including the raise of fines on maritime properties, the raise of taxes on deposit interests and the introduction of an additional tax on alcoholic beverages and tobacco. However, this step remains insufficient to fund a scale that could reach up to 2 trillion LBP.         

In this context, economic expert Ghazi Wazni told LBCI that the government should focus on the mentioned items in case it wants to cover the expense of the pay scale, noting that "the items should be studied profoundly".          

Wazni declared that the cabinet will approve all of the funding items and then "will throw the ball to the parliament's court," he said.                 

"Does the Parliament wish to burden the 2013 economy with additional expenses amid a slowdown in growth?" Wazni asked, stressing that the mainstay will be the real estate sector.               

This proves that the advantages of the pay scale may be few, however its installment plan will reduce inflation and the deficit of the balance of payments all the while maintaining monetary stability.


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