Lebanon’s Disappointing Budget

The good news is that it passed at all (After 5 years). The bad news is that it doesn’t attempt to tackle the deficit. If we can’t cut discretionary government spending in a high growth period, I don’t know when we can. Ex-P.M. Sanioura had made this exact same point last week.

Still, I found the increased tax on bank interests to savers a great idea to both get income and reduce all that extra liquidity. Another tax I would have supported? A Tax on those crazy amounts people are paying for “pretty” phone numbers.

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