Uncertainty and inflation drag on Lebanon’s real estate market
To the public, the budget saga is almost too convoluted, too politically messy, and too technical to make sense of—and if they can’t understand it, how can they hold politicians accountable? Or make any sense of how, in that period without a budget authorizing spending, the government was able to spend nearly $130 billion.
Constitutional Council freezes new tax hike pending further review.
Alain Bifani, director general of Lebanon’s finance ministry, tells Executive that newly enacted taxation will shore up revenue in the public coffer.
The debate is taking place in a fiscal environment where the money to raise public spending is non-existent, so the revenue needs to be created – through new taxes. To fund the salary increase, some economists and some politicians are arguing for reforming public spending rather than setting new taxes.