The Parliament, in Beirut, on June 24, 2026. (Credit: Philippe Hage Boutros/L’Orient-Le Jour)
Submitted to Cabinet in late August, the preliminary 2027 budget, drafted by the Finance Ministry, has begun circulating over the past 24 hours. One of the measures most likely to spark controversy is the ministry’s proposal to quadruple taxes levied on offshore and holding companies.No deficitWith total spending of $6.87 billion (or more than LL614 trillion), the budget is 15% higher than the 2026 budget, passed by Parliament at the end of January, just before the constitutionally mandated deadline. It is nearly 40% higher than the 2025 budget. The ministry is not forecasting a deficit.The salary adjustments approved in 2026 are expected to bring total spending on wages and salaries to around 8.61% of GDP, accounting for nearly 53.54% of the total 2027 budget. Need the context? Salam asserts public employees’ demands justified, but...
Submitted to Cabinet in late August, the preliminary 2027 budget, drafted by the Finance Ministry, has begun circulating over the past 24 hours. One of the measures most likely to spark controversy is the ministry’s proposal to quadruple taxes levied on offshore and holding companies.No deficitWith total spending of $6.87 billion (or more than LL614 trillion), the budget is 15% higher than the 2026 budget, passed by Parliament at the end of January, just before the constitutionally mandated deadline. It is nearly 40% higher than the 2025 budget. The ministry is not forecasting a deficit.The salary adjustments approved in 2026 are expected to bring total spending on wages and salaries to around 8.61% of GDP, accounting for nearly 53.54% of the total 2027 budget. Need the context? Salam asserts public employees’ demands justified,...
Israel releases 1 prisoner, postpones handover of four others until Friday