NNA - Caretaker Finance Minister, Youssef Khalil, on Friday expressed in a press conference amazement at “the ability of some Finance and Budget Committee rapporteurs to criticize some parts of the state budget, which they had suggested and voted in favor themselves.”

Moreover, Khalil said that adopting an exchange rate at LBP 15,000 pounds was way better than keeping it pegged at LBP 1,500.

"There remains a huge discrepancy between the new value of the customs dollar and its real value, and we have to work gradually to reduce it,” Khalil added.

He finally deemed the act of restructuring banks of paramount importance in a bid to stimulate economic growth and financial investments. “However, it is not sufficient enough if not strengthened by restoring confidence through a development plan that includes a declared program and a transparent calendar,” Khalil explained.

"Every sane person is well aware of the fact that we need banks in Lebanon, as their bankruptcy signifies the bankruptcy of depositors,” he added, suggesting that the bank merging process be based on the principle of the most efficient and solvent.

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