Apr 07 2020 - 13:45

Abdel Samad after Cabinet session: Government determined to return expatriates

A Cabinet session was held on Tuesday chaired by Prime Lebanon, news ,lbci ,أخبار Cabinet,Lebanon,A Cabinet session was held on Tuesday chaired by Prime
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Lebanon News
A Cabinet session was held on Tuesday chaired by Prime Minister Hassan Diab.
Following the session, Information Minister Manal Abdel Samad said that Prime Minister Hassan Diab tackled the completion of the first repatriation phase of Lebanese expatriates, praising the good performance at all levels and in all relevant ministries and departments, as well as the efforts made by all ministers, Middle East Airlines, and Beirut Rafic Hariri International Airport management.
She also noted that Diab stressed that Lebanon “will pursue the largest expatriates evacuation wave in Lebanese history, but ironically, this process is in the opposite direction this time.”
As for the financial and monetary situation and the reform program, Abdel Samad said that the Prime Minister has made it clear that preliminary ideas have been elaborated for further discussion and modification, if any, in order to come up with a complete version of this plan. 
"Later on, the cabinet focused on discussing the headings of the reform program, which is an internal Lebanese study that takes into consideration the current situation in the country," she added.
"This program seeks to address large current account deficits accumulated over the years, a huge financial sector and nine years of deterioration in the balance of payments as the need for the dollar increased, which required attracting foreign currencies. This has led to high public debt, a deficit in the state budget, a deficit in the banking sector, and a cash deficit, resulting in the need for debt restructuring and the reshuffling of the Central Bank and the banking sector as a whole," she stressed.
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