Lebanon Extends Austerity Measures Amid Financial Crisis, Says Foreign Minister”
Lebanon will extend austerity measures for its overseas diplomatic missions for at least two more years due to the ongoing financial crisis, according to Foreign Minister Abdallah Bou Habib.
At a press conference in Beirut on Tuesday, Bou Habib stated that the ministry would cut the salaries and expenditures of ambassadors as part of its crisis management strategy. “The austerity policy also applies to office rents and housing for heads of missions,” he noted.
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Furthermore, he added that the ministry would cease funding travel costs for official delegations and missions, implying a stringent cost-cutting measure to manage the economic downturn.
Lebanon is grappling with an unprecedented financial crisis that has compelled the government to slash spending and explore avenues to bolster its revenues. The extension of austerity measures reflects the severity of Lebanon’s economic situation, which has seen the country struggle with hyperinflation, banking restrictions, and a severe shortage of essential goods.
