Lebanon's political leaders declared what they called an economic state of emergency Monday following a meeting aimed at finding a solution to the country's economic crisis, raising concerns that more taxes will be imposed.
Lebanon's political leaders declared what they called an economic state of emergency Monday following a meeting aimed at finding a solution to the country's economic crisis, raising concerns that more taxes will be imposed.
The meeting at the presidential palace discussed measures to be taken in the near future and as part of the 2020 draft budget. President Michel Aoun said in a speech at the opening of the one-day session that everyone should make"sacrifices" in order to get one of the world's most indebted countries out of its problems.
The meeting came 10 days after international ratings agency Fitch downgraded Lebanon's ratings and as tensions on the border with Israel increased in recent days. Hezbollah on Sunday fired a barrage of anti-tank missiles in retaliation for an airstrike that targeted the group in Syria and an alleged Israeli drone attack south of Beirut late last month.
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