Adds information minister comment
BEIRUT, May 24 (Reuters) - The Lebanese cabinet approved the draft state budget on Friday and a session to formally seal it will be held at the presidential palace, government ministers said.
"All the clauses and articles have been agreed on," Finance Minister Ali Hassan said after a cabinet meeting in an interview with broadcaster NBN.
The information minister said in a news conference the draft budget cut the deficit to 7.5% of GDP from 11.5% in 2018. "Now, praise God, we are done. The budget is complete," Information Minister Jamal Jarrah said.
The budget is seen as a critical test of the government's determination to make changes that have been put off for years by a state riddled with corruption and waste. Lebanon has one of the heaviest public debt burdens in the world.
The budget could help unlock some $11 billion in financing pledged at a Paris donors' conference last year for infrastructure investment, if it wins the approval of donors along with other reforms.
(Writing by Tom Perry/Ellen Francis; Editing by Mark Heinrich and Kevin Liffey)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.