Jan Kubis, United Nations Special Coordinator for Lebanon, speaks to journalists following the Security Council consultations, at the UN headquarters in New York, July 22, 2019. Jan Kubis said on Monday that the recent passing of the 2019 state budget by Lebanon's parliament was "good news" and "appreciated" although it is July now. (Xinhua/Li Muzi)
UNITED NATIONS, July 22 (Xinhua) -- The UN Special Coordinator for Lebanon Jan Kubis said on Monday that Lebanon's parliament recently passed the 2019 state budget was a "good news" and "it was appreciated" although it is July now.
Cutting the overall budget deficit from 11.4 percent to 7.59 percent, Kubis said this perhaps is the most important law in managing the economy and it will contribute to the stability of the country.
Lebanon's government said that it will move toward preparing the 2020 budget, Kubis told the press after the Security Council consultations.
He also warned that one of the most prominent questions in Lebanon is the maintenance of weapons by different arm groups.
Lebanon is one of the world's most indebted countries. Endorsing a state budget that slashes the deficit is among the measures the Lebanese government has pledged to take as part of the key financial and economic reforms recommended at CEDRE conference.
The CEDRE international conference, which was organized by France in 2018, pledged more than 11 billion U.S. dollars in loans and donations to Lebanon if structural reforms are implemented in the country.
