Cabinet to hold successive sessions on state budget
The caretaker Cabinet will hold successive sessions to discuss the draft state budget, the National News Agency reported on Monday.
The first session will be held next Monday, NNA said.
The Council of Ministers’ General-Secretariat had received the draft from the Finance Ministry this afternoon.
17 July 2023, 18:50
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Basic economic facts anyone with a calculator can verify:
A peaceful well governed nation can get loans at 2% yearly interest. Political instability increases interest to 6%-10% for same loan. In a country controlled by a criminal militia acting as Iran’s Foreign legion, interest will exceed 15%.
A loan payable in 30 years costs:
80% more if interest=2% (base)
474% more if interest=6% (6 times more)
1645% more if interest=10% (20 times more )
6521% more if interest=15% (81 times more)
That is why investments dried up in Lebanon, economy collapsed, businesses and country went bankrupt, and banking system destroyed. Thanks for Useful Idiots Aoun, Bassil and Franjieh for taking us to hell while protecting Hizb criminal activity & risk to economy. Any long-term project approved while HizbIran control Lebanon or Frangieh elected will be costing Lebanese and their children several times its actual cost. Simple risk management calculations!
