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Raed Khoury to LBCI: Urgent reforms needed to restore Lebanon's economy

Lebanon Economy

10-09-2023 | 03:14

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Raed Khoury to LBCI: Urgent reforms needed to restore Lebanon's economy

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Former Minister Raed Khoury considered that the political class's reliance on the central bank has led to stagnation and dependence on itself, especially since the bank's function is not to finance it, and there is a complete deficit in the state.

Khoury explained in an interview on LBCI's "Nharkom Said" TV show: "The budget size has become smaller, and only tax collection can be improved to cover its expenses, saying: "We have been patching things up," we must identify the sectors that need privatization to relieve the state's burden."

He also pointed out that the central bank accounts for 90 percent of the depositors' money in the central bank. As for capital controls, he considered it essential at the beginning of the crisis, but today, it must be approved along with three laws related to financial discipline, the budget, and bank restructuring.

He added: "Every day of delay in reforms, we need ten days to compensate for it. So, how about if we talk about four years?"

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