Khalil: Reformative Budget Approval Enables Financial Recovery

Khalil: Reformative Budget Approval Enables Financial Recovery

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2023-08-07 | 09:41

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Khalil: Reformative Budget Approval Enables Financial Recovery

Caretaker Minister of Finance Youssef Khalil considered on Monday that "the 2023 budget project, currently under discussion in the Council of Ministers, is nearing its end, and it is a continuation of the corrective and financial recovery process that started with the approval of the 2022 budget, followed by several executive measures, which led to increasing the projected revenues for 2023 to about 8-9% of the GDP, compared to around 6% of the GDP in 2022."

Khalil stated in a working meeting held at the Ministry of Finance, attended by the representative of the International Monetary Fund in Lebanon, Frederico Lima, and a delegation from the Fund to discuss issues related to financial management and the 2023 budget: "Although the completion of the 2023 budget project and its submission to the Council of Ministers comes late and beyond the constitutional deadlines, its importance lies in completing the corrective measures and reducing the distortions and gaps resulting from the multiple exchange rates in the economy, which would enhance the revenues and contribute to the recovery of the public treasury."

He explained that "the budget did not impose new taxes on the citizens, as some