Minister Ali Hasan Khalil speaks during a conference in Beirut. (The Daily Star/Dalati Nohra, HO)
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Finance Minister Ali Hasan Khalil said Monday that the worldwide drop in oil prices would reduce the deficit of the state-owned electricity sector by between $400 million and $500 million annually, provided that this trend continues.Khalil cautioned that the projections for 2015 were not especially promising despite the fall in oil prices.Khalil earlier predicted that public debt would reach more than $66 billion by the end of 2014 .Khalil called on all political parties to set aside their differences, elect a president and reactivate public institutions.Khalil disclosed that for the first time in six years, the Finance Ministry succeeded in achieving a primary surplus in the budget.
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