| 7 October 2022, Friday |

Government is required to approve 2022 budget, unify exchange rate

Next Wednesday, Jordan, Lebanon and Syria will sign a transit agreement and a contract to supply Lebanon with part of its electric power needs from Jordan through the Syrian electric grid.

The Minister of Energy and Mineral Resources Saleh Kharabsheh stressed the importance of the agreement to help Lebanon ease acute power shortages.

He also stressed that the project will benefit the Jordanian electrical system, as it will be supplied directly to Lebanon from the transmission networks, emphasizing that the selling price of energy to Lebanon will not bring any losses to Jordan, as the distribution cost will not be included in the selling price.

It is not clear yet, on what exchange rate the 2022 budget will be prepared. The budget’s priorities and details are still vague, and the private sector is awaiting today for the budget’s approval that is likely to support the expansion of the economy, boost growth, improve the investment climate and business, and raise the level of competitiveness of the Lebanese economy.

  • Sawt Beirut International