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FINANCIAL NEWS
Lebanon’s budget approval to clear way for electoral law
26 Feb 2017
(MENAFN) The Cabinet will approve this year state budget and sent it to Parliament for a final ratification, while the move would clear the way for rivals to gear efforts for agreeing a new vote law.
Accordingly, a huge breakthrough has been made in the Cabinet talks on the draft budget, whereas the public sector’s salary hike bill will be involved in the budget.
In addition, the cost of financing the salary scale bill will reach USD800mn, while the taxes proposed in the budget would not affect the low- and middle- income people.
Moreover, the minister offered a number of taxes in the budget, which involve raising the value added tax from 10 to 11 percent and increasing taxes on the interest of bank deposits from 5 to 7pct.
MENAFN2602201700450000ID1095269737
MENAFN2602201700450000ID1095269737
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