Finance: a medium -term plan … and proceed with tax and customs reforms

Finance Minister Yassin Jaber held this morning a working meeting with the regional director of the International Monetary Fund, Ernesto Reago, in the presence of the resident representative of the Fund, Frederico Lima, and the Fund’s work team. Also attended by the Ministry of Finance, Director of Finance, George Maharawi, the Director of imports, Louay Al -Haj Shehadeh, the advisers Claudine Karaki, Zina Qasim and Hussein Tarraf, and the expert from the French treasury Abdenor Brahmi.
The meeting was allocated to discuss the medium -term financial framework (MTF) prepared by the Ministry of Finance. The budget project and the agreed objectives were discussed, especially the fund, that the initial surplus is achieved by 1.7% of the GDP, a number that is considered high in the current circumstances that Lebanon is going through, and without imposing any tax increase. The decision of the State Shura Council was also discussed to stop the implementation of the customs fee on fuel. The Fund’s delegation from the Ministry’s team also briefed the reform plan that the Ministry of Finance is working on implementing in the Customs Directorate, the Directorate of imports, the VAT Directorate (TVA) and the Real Estate Affairs Directorate, which would raise revenues and achieve a budget surplus. He agreed to complete the research in autumn meetings in Washington within the next few weeks, in order to develop an integrated financial plan that enhances Trust and protect economic stability.