Mon. Jun 24th, 2024

NNA – The Ministry of Finance on Thursday concluded a series of meetings with the International Monetary Fund (IMF), led by Ernesto Ramirez Rigo, to discuss ongoing collaborative projects, particularly ideas concerning the 2025 budget.

Ramirez commended the ministryrsquo;s work, especially its efforts to avoid any financial deficits that could threaten fiscal and monetary stability.

The IMF official emphasized the need to continue measures that would enhance the ministry#39;s revenue through improved tax compliance.nbsp;

quot;The measures taken by the Ministry of Finance over the past year have significantly contributed to exchange rate stability and enabled the Central Bank of Lebanon to bolster foreign currency reserves,quot; Ramirez stated. However, he noted that this stability would not be sustainable without the completion of legislation related to banking sector restructuring and the necessary economic reforms.

In turn, Finance Minister Youssef Khalil highlighted the actions taken by the tax administration and customs to curb smuggling and strengthen oversight, contributing to the reduction of illegal economic activities.