BEIRUT — Finance Minister Yassine Jaber said the government's 2026 budget proposal — which the government has just begun preparing — would align with the reform commitments of Prime Minister Nawaf Salam’s government, according to a ministry statement issued after his meeting with European Union Ambassador to Lebanon Sandra De Waele.

"I eagerly anticipate a budget proposal that follows the development strategies and reform objectives set by the government, through reactivating governance and control bodies as well as restructuring banks, public debt and the eurobonds portfolio [the dollar-denominated debt securities issued by the Lebanese government]," Jaber said.

He added that the proposal under preparation includes "measures that will help maintain fiscal discipline and pave the way for subsequent budgets to increase social spending." Jaber also said the Finance Ministry, which drafts the budget before it is reviewed by the Cabinet and voted on by Parliament, is "cooperating with the European Union" on the plan.

De Waele said the EU’s contribution is primarily technical and aims "to facilitate the work of the Finance Ministry" in allocating budget appropriations. The International Monetary Fund, which is sending a delegation to Lebanon on Monday, is also expected to provide its own recommendations.

Lebanon signed a preliminary agreement with the IMF in April 2022 for a financial assistance program. Adopting a budget aligned with reform goals was a key condition, but the government of then-Prime Minister Najib Mikati and the Parliament elected in May 2022 failed to deliver on their commitments, stalling the process. The IMF now appears ready to restart negotiations with Salam’s government.