Lebanese President Michel Aoun and Prime Minister Hassan Diab hailed the economic rescue plan as the Cabinet unanimously approved it on Thursday.

Lebanese media reported that the cabinet unanimously approved a long-awaited economic rescue plan during a session headed by President Aoun at Baabda Presidential Palace.

In remarks at the start of the session, President Aoun described this day as ‘historic for Lebanon’.

“For the first time a financial-economic plan is approved following years of poor planning that could have taken the country into devastation,” President Aoun said, in remarks carried by local media.

For his part, PM Diab said the plan has been well discussed, and that it comes after previous plans relied on wrong numbers that hid the budget deficit.

“By approving the economic plan we are putting the government’s work on the right track,” he said, adding that the plan will “define the state’s reform path.”

Diab described the plan as significant and “practical since it includes an economic vision of Lebanon’s future.”

Source: Al-Manar English Website