Lebanon PM targets deficit of 7% of GDP next year

Beirut: Lebanon Prime Minister Saad Al Hariri’s government wants to reduce the deficit to 7 per cent of GDP next year, he told CNBC in an interview.

“So what we are doing is, fixing our debt to GDP, our deficit and the budget to 7.6 per cent this year, we want to go down to 7 per cent next year, or maybe a little bit less,” he said in the interview aired on Wednesday.

The prime minister also said that “keeping the Lebanese pound at 1,500” is the only stable way to proceed with the government’s reforms.