ECONOMY

Hariri says Lebanon far from bankruptcy, cites risks of no reform

Saad Hariri during a regional banking conference, in Beirut, on Nov. 23, 2017. (AP)

Prime Minister Saad al-Hariri said on Monday Lebanon was far from bankruptcy but failure to pass a “realistic” budget that brings down the state deficit would be tantamount to a “suicide operation” against the economy.

Hariri also said once the new budget is approved, financial institutions would raise Lebanon’s sovereign ratings, and criticized “preemptive” strikes by public sector workers who fear their salaries and benefits will be cut.

He was speaking in televised comments after a meeting with President Michel Aoun and Parliament Speaker Nabih Berri. The government is debating the draft budget.

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Last Update: Monday, 6 May 2019 KSA 22:58 - GMT 19:58
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