Lebanese cabinet approves draft state budget

Author:

Reuters

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ID:

1558708701133989300

Fri, 2019-05-24 14:21

BEIRUT: The heavily indebted Lebanese government approved a draft budget to cut its large deficit on Friday, aiming to ward off a financial crisis which top leaders have warned is bearing down on the country unless it carries out reforms.
The draft 2019 budget, which will cut the deficit to 7.5% of GDP from 11.5% in 2018, is seen as a critical test of the government's will to launch reforms that have been put off for years by a state riddled with corruption and waste.