No painful procedures for the poor class The Phalanges

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The “financial bailout plan” was the focus of discussion around it in the cabinet session yesterday,

Finance Minister Ghazi Wazani told Al-Gomhoria: The financial plan for the bailout is not final and subject to amendment according to the notes that the ministers will place on it. It is only natural that we go to the cabinet because it includes tax measures and laws, denying that the plan includes painful measures for the poor and middle class, stressing that A set of these measures have already been approved in the Baabda Correctional Paper, such as raising the tax on corporate profits from 17 to 20, raising the tax on large deposits over a million instead of 11 to 20%, increasing fees on luxuries from 10 to 15%, raising the electricity price according to the conditions in a manner that does not Affected by people with low incomes Freezing employment, reforming the pension system, reducing deficits and public debt, reforming the public sector.

On raising the price of the gasoline plate, my weight said: «We have taken a decision in the government to put a ceiling on the gasoline plate, which is 25 thousand pounds, can be raised».

He added: “The plan includes structural reforms for economic growth, on the basis of which we will negotiate with the international community, the IMF and creditors.” He revealed that the echo of their initial contact with them was positive when we outlined them, and the goal is to show abroad that after 4 years we are able to achieve a primary surplus, and are able to withstand Pay off the debt and service the debt.

He denied that the plan had noted the process of “hierarchies” of deposits, neither from near or from afar, stressing that the issue of banks and deposits was not included in the plan and was not discussed, but what was said about it is the debt hierarchy or what we call a discount on it in the restructuring process. He expected the negotiation process with foreign creditors to take 5 to 6 months.

Regarding the financial appointments, my weight told Al-Gomhoria: The financial appointments were postponed for some time, but you should not wait for a long time, because the financial appointments must be made in the near term, if the deputies of the Governor of the Banque du Liban are vacant their positions since March last year, or for the oversight committee On banks that became vacant days ago, or on financial markets or the government commissioner at the Bank of Lebanon. In the current situation, we cannot continue to place vacancies in sensitive locations, especially in the Banking Supervision Committee, while reaffirming that the Central Council of the Banque du Liban is supposed to be completed in the nearest time, effective, and that it has a role in the next stage.

The main element that is supposed to be available in parallel with the government effort in preparing the “rescue financial plan” is the completion of financial appointments that constitute the objective complement, knowing that these appointments were the focus of discussion during the past two days between Speaker of Parliament Nabih Berri and Governor of the Bank of Lebanon, Riyad Salama Since he learned that Salama raised with the Speaker of the Council the necessity of appointing deputies of the Governor of the Banque du Liban, Berri agreed to this matter, stressing that their appointment should take place as soon as possible.

Source: Republic





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