Lebanese members of parliament attend a general parliament discussion in downtown Beirut, Lebanon October 17, 2017.
Reuters/Mohamed Azakir
BEIRUT - Lebanon's parliament on Thursday approved the first state budget in 12 years, a vital step towards reforming the fragile economy and preventing rising debt spinning out of control.
Successive governments have failed to pass annual budgets due to a string of political crises since the 2005 assassination of former prime minister Rafik al-Hariri.
The budget passed after three long days of discussion by 61 votes for and four against. Eight members of parliament abstained.
Successive governments have failed to pass annual budgets due to a string of political crises since the 2005 assassination of former prime minister Rafik al-Hariri.
The budget passed after three long days of discussion by 61 votes for and four against. Eight members of parliament abstained.
Passing a budget was a priority for the government of Rafik's son, Saad al-Hariri, which took office in January.
A main obstacle to passing the 2017 and previous budgets has been demands from some politicians that an audit of extra-budgetary spending from previous years be carried out.
A main obstacle to passing the 2017 and previous budgets has been demands from some politicians that an audit of extra-budgetary spending from previous years be carried out.
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But on Wednesday parliament approved a law allowing the budget to be passed before such an audit is completed and giving the minister of finance up to a year to carry it out.
(Reporting by Lisa Barrington; Editing by Janet Lawrence and Alison Williams) ((lisa.barrington@thomsonreuters.com; +961)(0)(1954456;))
(Reporting by Lisa Barrington; Editing by Janet Lawrence and Alison Williams) ((lisa.barrington@thomsonreuters.com; +961)(0)(1954456;))