LBCI

Samir Geagea stresses tax collection as key to resolving financial crisis

Lebanon Economy

05-08-2023 | 04:51

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Samir Geagea stresses tax collection as key to resolving financial crisis

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In a statement, the leader of the Lebanese Forces party, Samir Geagea, observed that "the current government majority is striving, by all means, to cover state expenses through the use of mandatory reserves in the Central Bank of Lebanon."

However, according to the statement, this endeavor is entirely misguided, as the mandatory reserve comprises what remains of people's deposits.

Meanwhile, the current ministerial majority should request from the Minister of Finance, who is among its ranks, the collection of taxes and fees of all kinds (airport, ports, electricity, etc.), tackling the estimated annual tax evasion of about a billion dollars, in addition to controlling smuggling and shutting down illegal crossings, it added.

He emphasized that instead of easily accessing depositor funds as it has done in all previous stages, the government majority must fulfill its basic duties by collecting taxes and fees as required, and "this alone is sufficient to resolve the financial crisis."

Lebanon News

Lebanon Economy

Lebanon

Lebanese Forces

Samir Geagea

Government

Mandatory Reserves

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