BEIRUT: Finance Minister Mohammad Safadi said Wednesday that his ministry would finalize Lebanon’s state budget for 2012 pursuant to legal norms and reconcile the country’s accounts since 1993.

“The Finance Ministry’s priority goes to finalizing the 2012 budget,” Safadi said in a written speech, delivered by his special representative at the opening of the annual conference of MENA network of Senior Budget Officials Wednesday.

His speech was read out by Youssef Zein at the conference held at Beirut’s Crown Plaza Hotel.

Safadi left for Washington before midday Wednesday to take part in the meetings of the World Bank and the International Monetary Fund.

Safadi said another priority was reconciling the country’s accounts since 1993.

In addition, Safadi said the Finance Ministry was seeking to “finalize reforms in the tax system in terms of redistribution of [tax] burdens while securing the necessary infrastructure and the required social services.”

Safadi publicly acknowledged Tuesday that the 2012 draft budget would call for new taxes and the cancellation of others, stressing that the budget would be completed in two weeks.