Home Economics & PolicyBudget 2019Lebanon ratifies 2019 budget

Lebanon ratifies 2019 budget
ENAR

by Jeremy Arbid

More than seven months into the fiscal year, Lebanon ratified its 2019 state budget. The law’s passage comes after months of delay and deliberation over expenditure-saving and revenue-boosting measures in what is being dubbed the austerity budget, though more accurately is a reformist one. The 2019 budget is the third in three years, after more than a decade of going without, and is a necessary exercise to correct the state’s woeful finances and to unlock infrastructure loans from last year’s CEDRE infrastructure conference. At the same time, it represents the beginning of a shift in the politics over what Lebanon will spend and collect.  Fiscal fever In mid-July, Parliament convened to vote on the 2019 state budget. Over four days of deliberation, lawmakers voiced criticism that the projections in the budget were not based on reality and that not enough was done to enlarge the revenue base. Lawmakers also complained

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