Finance Minister, Ali Hassan Khalil, indicated on Monday that the current budget deficit in the country mounts to LBP 8 trillion, calling to cut spending and endorse radical measures to reduce the shortfall.
Khalil made these remarks following a Cabinet session held at Baabda Palace devoted to discussing the 2018 draft state budget.
Highlighting keenness to endorse the budget in the nearest time possible, Khalil said it could be endorsed before the upcoming legislative polls if its discussion ended soon.
According to Khalil, the bill does not include new taxes; it instead comprises reforms and spending control measures.
"We are committed to finalize the budget and forward it to the Parliament before the upcoming elections," he maintained.
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