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Lebanon announces 'state of economic emergency'

Sep 03

Lebanon announces 'state of economic emergency'

Beirut, Sep. 2 (Petra) -- Lebanese Prime Minister Saad Harairi Monday said that the Lebanese Council of Ministers had approved the announcement of a 'state of economic emergency,' while continuing with the exchange rate policy of the Lebanese pound.

Following a meeting headed by President of Lebanon Michel Aoun, Harairi told journalists that 'An agreement was reached to abide by the 2019 budget and not incur additional burdens, and to reduce the public debt as part of transparent bids that would guarantee the rights of the state.'