Lebanon finance minister urges quicker gov't formation to pass 2019 budget

Source: Xinhua| 2018-09-13 01:52:20|Editor: yan
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BEIRUT, Sept. 12 (Xinhua) -- Lebanese caretaker Finance Minister Ali Hassan Khalil has urged quicker cabinet formation in a bid to discuss and approve the 2019 budget, National News Agency (NNA) reported Wednesday.

"The 2019 budget must be approved in parallel to the adoption of necessary reforms which will activate our economy," Khalil was quoted by the NNA as saying.

He also emphasized the need to reform the electricity sector which costs the state 2 billion U.S. dollars every year.

Lebanon has not had a steady power supply since its infrastructure sustained damage during the civil war, while successive governments have failed to agree on a plan to secure electricity supply.

Officials have repeatedly called for the creation of power stations to ensure enough electricity for the country.

However, as the bankrupt national power company is unable to build new power plants, Lebanon has to keep buying electricity from Turkish barges docked off-shore.

The current public electricity production in Lebanon stands at 2,000 MW, way below the national demand of more than 3,300 MW in summer months.