BEIRUT: The Council of Maronite Bishops Wednesday called for speeding up the study and passage of the 2019 draft state budget.
Following the council’s monthly meeting, chaired by Maronite Patriarch Beshara Rai, the bishops praised the austerity measures included in the draft.
At the same time, they expressed concern over the absence of a general socioeconomic policy and a plan to ensure the steady development of the economy, and whether the proposals are sufficient to actually lower the deficit.
Lebanon’s economy suffers from a significant national debt of $85 billion, slow growth and a high budget deficit. Last year’s deficit was estimated at $6.7 billion, or 11 percent of GDP, though the final figures have not been released.
On Tuesday, Cabinet held its first session to discuss the 2019 draft budget, which has been dogged by criticism because of its austerity proposals, including a 3 percent cut to the retirement wages of military personnel. President Michel Aoun has called for Cabinet to move quickly on the draft so that it can be sent to Parliament and ratified before the end of the month.