Finance Ministry headquarters in Beirut, Nov. 15, 2024. (Credit: Philippe Hage Boutros/L'Orient-Le Jour)
In addition to the ongoing delays in restructuring the banking sector, the International Monetary Fund (IMF) mission visiting Lebanon from May 28 to June 5 encountered similar inertia on fiscal and budget reforms.As part of the third round of talks with authorities aimed at reaching a possible agreement to help steer the country back on track, IMF experts reviewed the main directions of the draft 2026 budget and the feasibility of a multi-year fiscal framework. In its final statement, the mission stressed that, given the chronic lack of fiscal space and the absence of stable funding sources, any additional public spending must be matched by equivalent increases in revenue. According to the IMF, this requires more substantial tax collection and a modernized administration, particularly in the tax and customs departments. Contextualizing...
In addition to the ongoing delays in restructuring the banking sector, the International Monetary Fund (IMF) mission visiting Lebanon from May 28 to June 5 encountered similar inertia on fiscal and budget reforms.As part of the third round of talks with authorities aimed at reaching a possible agreement to help steer the country back on track, IMF experts reviewed the main directions of the draft 2026 budget and the feasibility of a multi-year fiscal framework. In its final statement, the mission stressed that, given the chronic lack of fiscal space and the absence of stable funding sources, any additional public spending must be matched by equivalent increases in revenue. According to the IMF, this requires more substantial tax collection and a modernized administration, particularly in the tax and customs departments. ...