Hariri’s New Year economic outlook optimistic
Prime Minister Rafik Hariri expressed confidence in Lebanon’s economic and political future, and expected significant breakthroughs at the economic and political levels in the New Year. He said the economic measures endorsed recently by the Cabinet, including a drastic reduction of custom duties on imported goods, are bound to reactivate the economy and help Lebanon overcome the recession.
Hariri expected work on the budget to be completed within two weeks and stressed that it will include “true and realistic” figures about the projected expenditures and revenues. He reaffirmed that his plan aims at reducing the deficit gradually each year until it is totally eliminated, which will be achieved in the long-term.
Hariri predicted that privatizing public utilities will help narrow the budget deficit and reduce the public debt, adding that electricity and telecom will be the main focus of the privatization plan in 2001.
The Prime Minister added that the Cabinet will issue several decrees in the immediate future to finalize the pending difficulties facing Solidere. According to Hariri,the decrees will take into consideration the CDR recommendations, which suggested the reduction of red tape limiting Solidere’s work in downtown Beirut. — (Lebanon Invest)
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