|21 October, 2019

Lebanon approves 2020 budget with 0.6% deficit - Hariri

Power sector reform is one of the biggest issues the government is tackling

Lebanese Prime Minister Saad Hariri speaks during the UAE-Lebanon Investment Forum in Abu Dhabi, UAE, October 7, 2019.

Lebanese Prime Minister Saad Hariri speaks during the UAE-Lebanon Investment Forum in Abu Dhabi, UAE, October 7, 2019.

REUTERS/Satish Kumar
BEIRUT, Oct 21 (Reuters) - Lebanon's government approved a 2020 budget envisaging a deficit of 0.6% of gross domestic product, with banks set to participate in the deficit-reduction through an amount of 5.1 trillion Lebanese pounds ($3.4 billion), Prime Minister Saad al-Hariri said on Monday.

The government also approved a wider set of reforms including halving the salaries of members of parliament and ministers, Hariri said.

(Reporting by Beirut Bureau; Editing by Hugh Lawson) ((thomas.perry@thomsonreuters.com; Reuters Messaging: thomas.perry.reuters.com@reuters.net))

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