Lebanon: Parliament begins 2027 budget discussions amid Ogero strike

The Lebanese parliamentary Finance and Budget Committee has commenced sessions to discuss the 2027 draft budget. Ibrahim Kanaan, chairman of the committee, noted that the government met the constitutional deadline for submitting the proposal, which allows for proper debate and amendment. However, Kanaan cautioned that the budget reflects a theoretical accounting balance rather than a practical one, as it fails to address public debt restructuring or stimulate economic growth, relying instead on taxes and fees for 89 percent of its revenue.

Simultaneously, the Ogero workers' union has declared an open-ended strike. The labor dispute stems from government plans to establish ‘Liban Telecom’ as part of a privatization strategy. Employees are demanding an amendment to Law 431/2002 to guarantee their rights before transitioning to the new entity, rejecting government promises that they claim could be easily modified later. The strike follows unsuccessful meetings with the Minister of Labor.

Regarding international negotiations, the Minister of Finance stated that recent legal challenges by the President have not hindered progress with the International Monetary Fund (IMF), describing the current atmosphere between the government, the Central Bank, and the IMF as positive.