“An-Nahar” wrote: The current approach of Finance Minister Yassin Jaber is based on “managing scarcity,” not distributing abundance. The priority is to protect stability and ensure the continuity of basic services. He confirms to An-Nahar that “the state has not backed down from its obligations towards employees, but rather the postponement is linked to funding capacity and legal restrictions, especially in light of the paralysis of legislative work.”
He also indicates that “salary increases are reserved, and will be paid retroactively, starting in March, as soon as the appropriations are approved and appropriate conditions are available, whether in terms of market stability or a decline in security tensions.” On the other hand, the numbers reflect the depth of the crisis, as evidenced by a decline in state revenues by about 40% during the months of March and April, despite the imposition of additional fees on gasoline that provide about 35 million dollars per month. Nissan’s revenues were supposed to reach about $700 million, but they will not exceed $400 million, meaning a gap of approximately $300 million. Note that the cost of salary increases, including for retirees, is about $60 million per month, an amount that is difficult to secure in light of this sharp decline.
Jaber also pointed out that the current salaries block needs about $240 million per month, in addition to other obligations ranging between $50 and $60 million, at a time when revenues are collected in pounds amid the dollar scarcity. Therefore, coordination is being made with the Bank of Lebanon to control liquidity and partially secure the necessary dollars, in a way that maintains a minimum level of monetary stability. In addition, measures such as extending tax declaration deadlines and exempting fines contributed to slowing down collection, which increased pressure on public finances. As for external support, it has declined significantly from about $700 million in 2024 to only between $60 and $70 million this year, without significant new aid.
He also indicates that “salary increases are reserved, and will be paid retroactively, starting in March, as soon as the appropriations are approved and appropriate conditions are available, whether in terms of market stability or a decline in security tensions.” On the other hand, the numbers reflect the depth of the crisis, as evidenced by a decline in state revenues by about 40% during the months of March and April, despite the imposition of additional fees on gasoline that provide about 35 million dollars per month. Nissan’s revenues were supposed to reach about $700 million, but they will not exceed $400 million, meaning a gap of approximately $300 million. Note that the cost of salary increases, including for retirees, is about $60 million per month, an amount that is difficult to secure in light of this sharp decline.
Jaber also pointed out that the current salaries block needs about $240 million per month, in addition to other obligations ranging between $50 and $60 million, at a time when revenues are collected in pounds amid the dollar scarcity. Therefore, coordination is being made with the Bank of Lebanon to control liquidity and partially secure the necessary dollars, in a way that maintains a minimum level of monetary stability. In addition, measures such as extending tax declaration deadlines and exempting fines contributed to slowing down collection, which increased pressure on public finances. As for external support, it has declined significantly from about $700 million in 2024 to only between $60 and $70 million this year, without significant new aid.
