Hariri agrees reform package in bid to resolve economic

  • Monday 21, October 2019 06:08 AM
  • Hariri agrees reform package in bid to resolve economic
Sharjah24 – Reuters: Lebanon's Prime Minister Saad al-Hariri has agreed a package of reforms with government partners to ease an economic crisis that has sparked nationwide protests, official sources told Reuters, with a cabinet meeting expected on Monday to approve them.
The decisions call for a 50% reduction in the salaries of current and former officials and $3.3 billion in contributions from banks to achieve a "near zero deficit" for the 2020 budget.

It also includes a plan to privatise its telecommunications sector and an overhaul to its crippled electricity sector, a crucial demand among potential foreign donors and investors needed to unlock some $11 billion in funds to Lebanon.