File - Prime Minister Tammam Salam, center, heads a Cabinet session at the Grand Serail in Beirut, Friday, May 16, 2014. (The Daily Star/Mahmoud Kheir)
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Ministers Monday agreed on the necessity to draft a state budget as the country is facing a crippling economic and financial crisis.Information Minister Ramzi Joreige made the announcement after Cabinet met to discuss a report on the country's deteriorating financial situation presented by Finance Minister Ali Hasan Khalil during last week's meeting.Ministers, according to Joreige, expressed their viewpoints regarding the report and the proposals included in it, in particular the need to set a budget, carry out reforms in the country's electricity sector, stimulate the economy and kick off Lebanon's offshore oil and gas exploration.Minister of State for Administrative Reform Nabil de Freij voiced fear over a monetary crisis in the country in the upcoming two years if nothing is done.
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