Prime Minister Saad al-Hariri has said the government will prioritize economic reforms needed to bring Lebanon's massive public debt under control.
console.log("catid body is "+catID);if(catID==120){document.getElementsByClassName("divConnatix")[0].style.display ="none";var script = document.createElement('script'); script.src = 'https://player.anyclip.com/anyclip-widget/lre-widget/prod/v1/src/lre.js'; script.setAttribute('pubname','jpostcom'); script.setAttribute('widgetname','0011r00001lcD1i_12258'); document.getElementsByClassName('divAnyClip')[0].appendChild(script);}else if(catID!=69 && catID!=2){ document.getElementsByClassName("divConnatix")[0].style.display ="none"; var script = document.createElement('script'); script.src = 'https://static.vidazoo.com/basev/vwpt.js'; script.setAttribute('data-widget-id','60fd6becf6393400049e6535'); document.getElementsByClassName('divVidazoo')[0].appendChild(script); }The government was agreed this month following wrangling over the make-up of the cabinet that had lasted since soon after a parliamentary election last May.
Most of the major parties represented in parliament have places in the cabinet, including those of President Michel Aoun, the Western-backed Hariri and Parliament Speaker Nabih Berri, as well as the Iran-backed Hezbollah group.
The reforms the government plans to pursue could be "difficult and painful," but are required to avoid a worsening of economic, financial and social conditions, its statement of policy said.
The government has pledged a "financial correction" equal to at least one percent of GDP a year over five years, starting with this year's budget.
This would be achieved by boosting revenues and cutting spending, starting with transfers to the state-run power company, which the World Bank has said represents a "staggering burden" on public finances.
