Ashrafieh: During an economic dialogue session organized by the "Leaders Club" at "Le Gabriel Hotel" in Ashrafieh, Economy Minister Yassine Jaber presented a comprehensive roadmap for the country's financial and economic reform and the restructuring of the banking sector to an audience of over 100 officials, experts, economists, and heads of economic bodies.
According to National News Agency - Lebanon, Jaber emphasized the importance of restoring confidence in the economy and the state by transitioning from crisis management to establishing sustainable institutions and clear, consistent regulatory frameworks. Regarding the banking sector, Jaber highlighted 'sector restructuring' as a priority within the recovery process, emphasizing the law addressing the status of banks. This legislation provides a legal framework for managing both viable and non-viable banks. He also discussed the financial gap law, designed to address losses and establish a mechanism for recovering depositors' rights while maintaining the banking sector's viability.
In conjunction with banking reform, Jaber stressed the necessity of financial management based on medium-term planning to restore fiscal sustainability. He revealed that the 2027 draft budget is being developed within a five-year medium-term fiscal framework. The goal is to increase revenues by broadening the tax base, improving tax collection, combating tax evasion, and enhancing compliance, rather than implementing blanket tax rate increases.
Minister Jaber also announced preparations for a "receipt lottery" as a preliminary step toward mandatory electronic invoicing and the taxation of foreign digital services consumed in Lebanon. At the Finance Minister level, Jaber mentioned that administrative reform is advancing alongside a broad digital transformation process within the Ministry of Finance and public administrations. Notable developments include the migration of most Ministry transactions to online platforms, introduction of electronic payment options in Lebanese pounds and US dollars, digitization of real estate services, and modernization of the "Najm" customs system with support from the World Bank and the European Union.
The dialogue session was attended by prominent officials such as former Deputy Prime Minister Saadeh Chami; former Finance Ministers Rayya El Hassan and Ghazi Wazni; former ministers Sami Haddad and Freij Sabounjian; MP Mark Daou; and various heads of economic associations and bodies, alongside financial and economic experts.