Lebanon will agree to implement all economic reforms: Minister

beirut — Lebanon’s new government will agree to implement all the economic reforms the country promised at an international donor meeting last year, its finance minister said on Tuesday after talks to set policy.

Rival parties formed a new government on Thursday after nine months of wrangling. Like the previous coalition, it is headed by Prime Minister Saad Al Hariri and includes most major factions.

Since the government was formed, a cabinet committee has been working on a draft statement of government policy that will be put to parliament.

The statement will include all the reforms contained in a Paris conference of donors and the commitment to reduce the deficit and carry out fundamental reforms in various sectors, Finance Minister Ali Hassan Khalil said.

At last year’s conference, donors pledged more than $11 bil-

lion in infrastructure investment in Lebanon to help boost its weak economy, on condition the country carries out economic reforms. Hariri pledged at the conference to reduce the deficit as a proportion of GDP by a total of 5 per cent over five years.

Lebanon has one of the world’s highest levels of public debt, equivalent

to around 150 per cent of gross domestic product.

The policy statement was expected to be put to cabinet for approval, before it goes to parliament, and will maintain the existing position of keeping out of regional conflicts like Syria, Information Minister Jamal Al Jarrah said earlier.