| 25 September 2022, Sunday |

An electoral budget that lacks any reforms

It is an unbalanced budget, but rather can be dubbed an electoral budget. The political parties who are studying the draft budget are trying to take advantage of every item for their electoral advantage. However, the conditions of the International Monetary Fund (IMF) require reducing expenditures, decreasing the number of public sector workers from 320,000 to almost half, and using a unified exchange rate for all transactions, as well as fair distribution for financial losses, among other conditions, which may impact some ministers aspiring to run in the parliamentary elections negatively.

Forming the budget from outside the concept of the IMF may derail the elections, and the budget itself.

So, waiting for Wednesday’s session, which is likely to study the item of the customs dollar, the IMF’s eyes will remain on the final version of this budget, either by implementing the conditions and reforms, or by going to a more severe stage, mainly more collapse and poverty.

  • Sawt Beirut International