Beirut: Finance and Budget Committee chairman, MP Ibrahim Kanaan, on Tuesday met European Union director-general for the Middle East, North Africa, and the Gulf Michael Karnitschnig and an accompanying delegation at Parliament. The meeting focused on Lebanon's pressing economic and financial challenges, highlighting the critical need for fiscal and legislative reforms. Discussions also revolved around enhancing cooperation between Lebanon and the European Union to address these issues effectively.

According to National News Agency - Lebanon, participants at the meeting underscored the urgency of ending the ongoing war, which continues to exert a detrimental impact on Lebanon's economy, state capabilities, and institutional continuity. The delegation and MP Kanaan agreed on the importance of implementing structural reforms as part of a comprehensive recovery strategy. This strategy aims to restore both domestic and international confidence in Lebanon's economy and includes a practical plan to recover depositors' funds, thereby ensuring financial stability and growth.

The meeting highlighted the mutual commitment of Lebanon and the European Union to work collaboratively towards navigating the economic crisis. Both parties recognize that establishing a stable economic environment is crucial for Lebanon's long-term development and prosperity.