Hariri Says 'Unlike Other Countries', Lebanon Taking Measures 'before Crisis'

Prime Minister Saad Hariri announced Thursday that “the best decision we have taken in Lebanon is carrying out steps to address the deficit and austerity measures before the eruption of the crisis.”

“Other countries were obliged to take tougher, severer and more painful measures because they waited for the crisis to happen before beginning reforms,” Hariri said at the beginning of an ordinary Cabinet session at the Grand Serail.

“We should be able to manage the steps in a manner that protects the economy and citizens,” he added.

“Our situation in Lebanon remains reassuring and confidence in our economy, financial and monetary stability and the future of growth remains in place as long as we take the necessary measures,” Hariri pointed out.

Addressing the components of his government, the premier added: “This is a responsibility that falls on us all in Cabinet and parliament, and its basis is consensus among all political forces represented in the government over the measures that will be included in the state budget and on their proper implementation.”

Hariri also highlighted the “positivity” that the electricity plan's approval has created in financial and monetary markets and on “the confidence of investors in the future of the Lebanese economy.”

“It was the first sign of the government's seriousness about lowering budget deficit, fighting the waste of public money and implementing what we committed to at the CEDRE conference,” the PM went on to say.