Frem says any decrease in budget austerity will lead to complete collapse, deems ‘Cedar’ as an opportunity for Lebanon to move towards a productive economy

MP Neemat Frem warned Saturday against any austerity decrease in the annual budget since that would lead to complete collapse in the country.

“We are suffering from a catastrophic economic gap, which lies in the increase in the proportion of imports annually,” he said in a statement this afternoon, referring to the Economic and Planning Parliamentary Committee’s launching of a new methodology to awaken politics from its “state of coma”.

Frem considered that raising the interest rates from 6% to 15% disrupts the business environment, which entails that all parties have an exceptional rescue approach. He added that the 2% tax on imports ought to have been raised to 5% to encourage the purchase of the Lebanese product so as to avoid collapse.

“The state’s reconstruction is inevitable and necessary, and the current budget is a good start,” said Frem, hoping that “the mistakes of the past would not be repeated because the situation has brought us to the brink of the abyss.”

“Cedar is an opportunity for positive change to improve the business environment, so that Lebanon will go towards investing in a productive economy that creates jobs and promotes growth,” he maintained.

At another level, Frem stressed that “Lebanon is an Arab and Orient country and a founding member of the Arab States League and the United Nations, and we are concerned to protect it based on its total belonging to these two legal systems.”

“Additionally, we are concerned to keep the country away from convulsions and to neutralize Lebanon from the ignition prevailing in the region,” he asserted.

Source: National News Agency