Lebanese President Hails State Budget Approval

After the Cabinet approved the draft state budget for 2018, Lebanese President Michel Aoun said Tuesday that "the most important process of managing the state's finances has been achieved."

BEIRUT, (APP - UrduPoint / Pakistan Point News - 13th Mar, 2018 ) :After the Cabinet approved the draft state budget for 2018, Lebanese President Michel Aoun said Tuesday that "the most important process of managing the state's finances has been achieved.

" "With the budget approved with adjustment of revenues and expenditures, along with reduction of deficit, the most important process of managing the state's finances has been achieved," said Aoun.

On Monday, the Cabinet approved the state budget and sent it to the Parliament for ratification. Budgets of ministries have been slashed by 20 percent. Lebanese Prime Minister Saad Hariri said the "budget includes reforms and incentives for all sectors and it will achieve a surplus in all ministries."