| 24 May 2024, Friday |

Finance Committee approves Ministry of Finance’s budget, suspends banking interest clause

The Finance and Budget Committee on Monday held a session headed by MP Ibrahim Kanaan to discuss the Ministry of Finance’s budget in the presence of Finance Minister, Youssef Khalil, MPs, and other concerned officials.

Consequently, the Finance Committee approved the Ministry of Finance’s budget and suspended the banking interest clause, which amounts to LBP 4777 billions, requesting of the Ministry of Finance to prepare a detailed report on its content, allocations, and calculation mechanism.

The Finance and Budget Committee also approved boosting the fuel clause in the interest of real estate and their centers to secure services.

For his part, MP Kanaan stressed, “We will not finalize expenditures before completing articles on revenues so that we do not end up with a budget whose actual deficit is much greater than its announced figures; this is what we will start working on this Wednesday and Thursday.”

  • NNA