Lebanon to tax banks in bid to end unrest

Pedro Gonçalves
clock • 1 min read

Lebanese officials promised to tax banks and slash the salaries of ministers by 50% as part of an unprecedented package of measures to avert a financial meltdown and contain mass protests demanding the government's ouster. The emergency plan, announced by prime minister Saad Hariri, includes the approval of a 2020 budget targeting a deficit of 0.6% of economic output with no other taxes or borrowing and more aid to poorer families. Lebanon will also reduce the electricity sector's financial deficit and establish an anti-corruption body by the end of the year. "Your movement is what...

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