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What does Lebanon’s new draft budget include?

The Lebanese cabinet will discuss next Monday the draft budget for the current year, which includes a deficit of 15,000 billion Lebanese pounds, and will adopt an exchange rate of 20 thousand pounds against the US dollar.

Significantly, a 3% on all imported goods and a customs fee of 10% on imported goods, if it is similarly manufactured in Lebanon, will be imposed.

The draft budget will increase the tax on movable capital income, including interest on deposits and bonds, to 10%, and will witness imposing fees on empty real estate and shares for companies that own real estate.

In addition, a 50% tax will be imposed on properties built on vacant buildings, and an exit fee for travelers between 35 and 100 US dollars, while exempting tourist groups coming to Lebanon from residence and transit visa fees.

Lebanese Prime Minister Najib Mikati announced Thursday that the cabinet will resume its meetings next week to study and approve the budget.

A few days ago, the leadership of Hezbollah and the Amal movement in Lebanon announced their assent to a return to Lebanese government meetings in order to approve the budget and discuss the economic recovery plan.

Source: Almayadeen English