NNA - Caretaker Prime Minister, Najib Mikati, on Friday asserted that Lebanon's governmental efforts have successfully halted the financial collapse and initiated a substantial recovery phase. 

Addressing parliament in defense of the 2024 state budget, Mikati emphasized the state's financial reserves, citing over LBP 100,000 billion and $1 billion, including $150 million in fresh dollars and 850 million lollars (Lebanese dollars) at Account 36 of the Central Bank.

Responding to criticism from some lawmakers regarding taxes and fees, Mikati dismissed their claims as populist and unsubstantiated, highlighting the minimal impact of the proposed tax increases. He urged parliamentarians to focus on electing a president rather than obstructing governmental initiatives.

Underlining the significance of approving the state budget within the constitutional timeframe, Mikati emphasized the government's commitment to stabilizing the economy. He revealed ongoing efforts by the Central Bank to unify multiple exchange rates and prevent adverse consequences.

Mikati then clarified that Lebanon had no intention of pegging its exchange rate to the U.S. dollar, citing previous detrimental consequences. 
While acknowledging that the current budget may not be optimal, Mikati stressed its alignment with Lebanon's challenging economic circumstances.

Furthermore, Mikati refuted claims of relinquishing the country's decision-making authority to specific political factions, reaffirming the government's independence and commitment to national interests.

=============R.H.