BEIRUT: Former Finance Minister Jihad Azour emphasized the importance of formulating a strategy for preserving financial stability during the hard circumstances that Lebanon is going through today.
The strategy aims at increasing the level of liquidity in the treasury to enable the government in meeting any financial needs.
The strategy should also limit public expenditures, which have increased significantly in the past few years while the deficit has doubled between 2011 and 2014. Azour believes that the government should adopt precautionary measures in order to protect the monetary stability.
“The government should not wait till the last moment to solve any issue because it will surely become more serious with time,” he said.
“The electricity problem was a subject of discussion by successive governments but no practical decisions were taken to solve this issue,” he added.
A version of this article appeared in the print edition of The Daily Star on July 16, 2014, on page 5.