Finance Minister Yassine Jaber said that “we have reached an escalating crisis, with a paralyzed and struggling public sector. A decision had to be made. Negotiations were held with military personnel, and a meeting took place at the Ministry of Defense. The direction was to approve the increase, and those present understood that implementing it without securing revenues would expose the country to a crisis.” He added that “the International Monetary Fund was clear that Lebanon should not proceed with increases without securing revenues, so as not to return to the previous crisis.”

Jaber continued at a press conference: “It was necessary to take steps to achieve balance and cover some demands, and the government’s decisions will secure $620 million.” He also noted, “We decided to implement the gasoline price increase immediately to prevent a black market, while applying the increase to VAT requires a law and will not happen immediately.”

The minister added, “We have achieved a breakthrough in customs and increased revenues thanks to scanners and other equipment, and the Lebanese people should understand the magnitude of what we inherited.”