Overview:
Lebanon's Finance Ministry announced the transfer of all public-sector salaries and pensions, including military payroll, to Bank of Lebanon, completing a procedural change intended to streamline wage administration. The move reflects ongoing technical restructuring within the central bank and government finances. Separately, World Bank officials met with Finance Minister Yassin Jabar to review recovery and reconstruction projects, with approximately $65 million in contracts moving through administrative procedures.
Details:
The Finance Ministry declared that wages for public employees, retiree pensions, and military personnel salaries have been transferred to Bank of Lebanon and are now accessible through personal bank accounts. The announcement came as Lebanese authorities continue technical-level discussions with World Bank representatives on project implementation challenges, particularly administrative procedures, procurement mechanisms, and the execution capacity of relevant institutions.
In parallel, the national social security fund filed a fraud complaint against two individuals—Rabih Muhammad Qubaysi and Ali Essam Ali—accusing them of forging service attestations, payroll tables, and company registration documents. The fund's director general referred the case to the financial prosecutor's office.
The Lebanese parliament's finance committee is scheduled to hold three sessions beginning November 2 to debate the 2027 budget framework. The committee chair has signaled firm opposition to new taxes or levies on citizens, positioning fiscal pressure as a central point of contention in the legislative process.
Outlook:
Technical-level negotiations in Paris involving Bank of Lebanon, local banks, and financial advisor Rothschild are testing the feasibility of deposit recovery scenarios against actual financial figures. International Monetary Fund consultations are expected to follow these preliminary discussions.
Northern Lebanon's chamber of commerce is advancing an integrated economic development strategy, with deputy Michel Moawad noting early signs of a unified vision to reposition the region as an investment destination rather than a focus of deprivation.