The final outcome of the financial meeting in Baabda

A meeting is being held today at the presidential palace, under the chairmanship of President Michel Aoun, with the participation of President Nabih Berri, Prime Minister Saad Hariri, Finance Ministers Ali Hbadan Khalil, the Prime Minister. Mansour Batish Economy and Trade, Presidential Affairs Minister Salim Jreissati and the Chairman of the Finance and Budget Committee. Parliamentarian Ibrahim, Governor of the Bank of Lebanon, Riad Salameh, President of the Association of Banks, Salim Sfeir, and Director General of the Presidency, Antoine Choucair.

The participants deliberated on the existing financial and economic conditions, in terms of precise description of these and their direct and indirect causes, or proposed solutions, obligation and commitment.

Participants expressed satisfaction with the development of the political climate, openness, reconciliation and the return to regular work of the institutions, stressing the need to maintain political stability and reduce problems.

Participants emphasized their strong commitment to continue to maintain the stability of the exchange rate of the lira and credit.

It was agreed on a number of basic steps to be implemented in the next phase, which contribute to the activation of the economy and the strengthening of public finances; and directly discussed the "McKinsey" report and the submissions of all parties.

The key steps include:

– Adoption of the 2020 budget on its constitutional dates and commitment to a strict application of the 2019 budget, the procedures defined therein and the recommendations of the Finance Committee.

– Develop a detailed plan for the launch of $ 3.3 billion worth of planned investment projects in the House of Representatives, after the adoption of the law to guarantee their acquisition, in addition to the projects " Cedar ".

– Commitment for the complete implementation of the electricity plan at its various stages.

– Adopt a number of reform laws, including government procurement, tax evasion, customs formalities, tax procedures and coordination with the House Legislative Modernization Committee.

– Enable the work of ministerial committees, particularly with regard to the completion of state restructuring and job description.

– Complete the stages of judicial reform and strengthen the work of the central organs of inspection and surveillance, as well as strict control of waste and corruption, and accelerate the completion of transactions.

– Review and cancel unnecessary institutions in accordance with previous laws.