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Abdel-Rahman Ayas
Lebanon’s cabinet unanimously decided that it was “necessary” to draft a state budget for the first time since 2005 but the fiscal plan may face delays as long-standing political divisions remain as hard to tackle as ever. The Council of Ministers’ meeting discussed a report on the country’s deteriorating fiscal situation presented by Finance Minister Ali Hassan Khalil. The country is burdened by $71 billion in public debt and an annual $4 billion budget deficit. Its gross domestic product is estimated at $44.35 billion and its annual growth at 1-1.
