The caretaker Prime Minister Najib Mikati chaired a meeting focused on supporting local industries and goods, attended by caretaker ministers of finance, industry, and economy. Minister Bouchikian stated that the implementation decrees for the 2022 budget, which were approved by Parliament, will be issued tomorrow. A key element for local industry includes support for domestic production and a proposed tax increase of about 10% on goods that have local alternatives. The Prime Minister called for a review of the lists, discussing in detail each item to ensure it does not negatively impact consumers and the Lebanese economy.
A committee has been formed to promptly clarify these lists and confirm which items will see a 10% tax hike. Bouchikian emphasized that any industry produced by more than three factories will be protected, along with a review to ensure they meet market demands to shield the Lebanese market from monopolies—an issue highlighted by the Prime Minister, who aims to prevent monopolization of the materials relied upon to support Lebanese industry.
Regarding the 15,000 LBP dollar rate and the 1,500 LBP dollar rate, Bouchikian noted, "There will be no news tomorrow regarding the 15,000 LBP dollar rate; however, all tariff adjustments agreed upon in the budget will take effect, as they become actionable." On the customs dollar topic, it remains under discussion between the Ministry of Finance and the Central Bank and has not yet been implemented.
Concerning goods exempted from customs duties, Bouchikian clarified that the focus is on local industries, and exemptions will be evaluated based on priority, importance, and the scale of local production. The Prime Minister emphasized the need for fairness in these lists to protect the economy from potential errors. He added that most lists have been finalized, but there are questions about certain items that will be verified through a committee from the ministries of agriculture, industry, and economy.
