The 2024 budget:

Rewarding property owners and speculators

On January 26, 2024, the Parliament approved the draft 2024 budget law.

This article discusses the 2024 budget in Lebanon, emphasizing the lack of substantial changes to rebuild the collapsing economy. The budget focuses on providing legal cover for state expenses without addressing existing policies, lacks vision by not incorporating reforms, and neglects concepts of tax justice. The budget is perceived as perpetuating structural weaknesses in the state, favoring property owners and real estate investors through preferential treatment, exemptions, and tax reductions. Specific budget provisions, such as the reduction of taxes on profits from property transactions and the extension of the lease of state-owned properties are highlighted in the article. The article situates the 2024 budget within the context of Lebanon’s current and historical land tax policy, underscoring the historically privileged position of the real estate sector with tax reductions, facilitating land trade, and speculation.

Read the original text here.

Infrastructure Public Property Lebanon