| 28 September 2022, Wednesday |

Nahas says state budget almost ready, elections will be on time

MP Nicolas Nahas said that “the progress that has been made in the annual general budget, negotiations with the International Monetary Fund, and the electricity file, is what prompted the Amal-Hezbollah duo to take the decision to attend the cabinet sessions dedicated to approving the state budget.”

Speaking in an interview with “Voice of All Lebanon” Radio Station this morning, Nahas indicated that “Prime Minister Najib Mikati is still adhering to his stance not to interfere in the work of the judiciary,” adding that “differences on this issue still exist.”

“The budget has become mature, and when it is referred to the General Secretariat of the Council of Ministers, a cabinet session will be automatically summoned,” he said.

Nahas stressed that “the parliamentary elections will inevitably take place, and PM Mikati is adamant on holding them on time,” noting that “this stage will reveal the capabilities of the various parties.”

With regards to extracting Egyptian gas, he revealed that “the agreement was concluded with Egypt to this effect and all paths are open, pending an agreement with the World Bank on the loan that will cover the cost,” disclosing that PM Mikati received a promise from the World Bank during his presence at the Glasgow conference about its readiness to finance this project.

As for the economic recovery plan, Nahas affirmed that “great effort is being exerted in this regard, with prime focus on preserving the depositor’s funds, even if for several years.”

Nahas called for “a return to dealing with the Lebanese Lira, because dollarization is a scourge that has slaughtered Lebanon,” expecting that “the dollar peg will drop to acceptable rates after the cabinet convenes and following agreement on difficult issues which may suggest a solution in the future.”

He also deemed it possible “that the International Monetary Fund will give money to Lebanon if the pace of work is accelerated, and it is not necessary to wait until after the elections.”

  • NNA