Economy Shrinks 6.4% in 2027 Budget

Prime Minister Nohad Machnouk announced that the Lebanese economy is expected to shrink by 6.4% in 2026, while emphasizing that no new taxes will be imposed in the 2027 budget draft. He explained that the government is working to reduce living costs, especially in the electricity and transportation sectors, in an effort to improve the prices of goods and services. He reaffirmed the rejection of exploiting rising costs to achieve illegal profits. Additionally, he mentioned that the Lebanese Army has been tasked with re-evaluating the state's entitlements from the maritime property sector in preparation for claiming them, in order to strengthen national revenues.

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