President Michel Aoun called for intensifying the consecutive cabinet sessions in order to discuss the 2018 budget, in order to approve as soon as possible and refer it to parliament, noting that the deficit in the budget requires measures to reduce it, “since continuing with large expenses will only increase the deficit.”
At the beginning of the cabinet session held to start discussing the budget draft law, Aoun pointed out that the electricity deficit remains very high, adding that “2100 billion LBP were allocated to fill said deficit, which equals to 8% of the budget.” He said that this number could be subject to change due to the price of oil barrel.
The president stressed the need to reach a radical solution the soonest possible for the issue of the electricity, stating that there are several proposed solutions that must be discussed.
On another note, Aoun emphasized the need to resolve the issue of housing in coordination between the Social Affairs Ministry and the central bank, noting that the demands for housing loans have been increasing with the passing of the pay scale.