Lebanese parliament began debating the 2022 state budget draft, a day after a lack of quorum forced the postponement of a scheduled first session.
Speaking at the session, the head of the finance parliamentary committee, MP Ibrahim Kanaan, said the proposed budget lacks an economic and social vision.
“The scenarios prepared by the Finance Ministry for exchange rates ranging between LBP 12,000, 14,000, and 16,000 will not secure the needed revenues, which strips the budget of balance because the revenues are not sufficient for covering salaries, social aid, and public debt,” Kanaan explained.
Deputy Speaker Elias Bou Saab for his part decried “the procrastination in dealing with the social-economic-financial-security-health-educational crisis,” lamenting that “this state budget is based on borrowing.”
MP Mohammed Raad meanwhile noted that “the draft budget reflects the financial situation in which the country is floundering.”
“The government and its premier should not brag about the draft budget, but we should not exclusively hold them responsible for the current situation in the country,” Raad added.