Industry Minister, George Boujikian, on Monday commented on the Cabinet’s state budget discussion, highlighting the fact that Lebanon was under local and international observation.

“Today’s budget discussion was a pivotal one. It wasn’t any regular session and wasn’t similar to any of the previous sessions that had been held to approve a state budget. It was an extraordinary session in very exceptional and compelling circumstances,” the Industry Minister said.

“Today, we are under the observation of the international community, the World Bank, as well as our community, society, and our people, to whom we should provide a dignified life and proper social conditions,” Boujikian added.

“When discussing the budget, it is necessary to touch on production, market services, and reduction of imports, which are at the core of financial, economic, and therefore social reform,” he explained.

“Lebanon and the Lebanese enjoy different features and strengths, which are human capabilities, intellect, creativity, inventions, industry and trademarks (Franchise). These advantages are a source of richness for the Lebanese economy and society; they create job opportunities and market products and services in exchange for hard currencies entering Lebanon. This eventually leads to easing the export of US dollars from Lebanon to foreign countries,” Boujikian explained.

“The budget must make a kind of a reversal of the traditional economic options, and fix the path en route to a productive economy, instead of a rentier one,” he added.