Michel Aoun pledges to sponsor economic and financial reforms in Lebanon

BEIRUT (Reuters) – Lebanon should begin implementing a series of economic and financial measures agreed by its top leaders in October that will spur economic growth, President Michel Aoun said Sunday, pledging to take care himself.

Aoun was referring to the decisions made at a high-level meeting held this month to revive a slow-growing economy for years and whose public debt burden is one of the heavier in the world.

Prime Minister Saad Hariri said after the meeting of August 9 that "one of the agreed steps was to finalize the 2020 budget on time and to prepare a plan for launching projects worth 3.3 Billion dollars approved by Parliament and fully implemented, the electricity sector reform plan, anti-tax evasion laws and the organization of public procurement. "

Aoun said: "I will personally sponsor the course of decisions made regarding Baabda's financial and economic cooperation with President Nabih Berri and Saad Hariri and the political forces involved in power."

He added in written statements that "the objective is to ensure political stability within and outside the Cabinet, and to ensure the highest possible productivity, particularly with respect to Implementation of the 2019 budget with its imports and reforms ".

Aoun said that he expects this executive track to begin in early October after the completion of ongoing preparations in various departments, which will result in higher growth rates , which will have a positive impact on the economic and financial situation.