Lebanon's parliament passed the 2024 budget bill, neglecting to include crucial reforms that would help emerge from the financial collapse that devastated the public sector nearly five years ago.
The budget, which was amended over months of Prime Minister Najib Mikati's version to parliament, predicted a significant increase in state revenues earned through value-added tax and customs duties. It also included measures targeting individuals and entities who made illicit gains during Lebanon's financial crisis, by fining companies that unfairly benefited from the central bank's previous currency exchange platform and traders who used the bank's import subsidy to make profits.
Source (Al Khaleej Emirati Newspaper, Edited)
