Member of Hezbollah’s Loyalty to Resistance parliamentary bloc MP Ali Fayyad slammed the draft budget law approved by the Lebanese Cabinet on Thursday, saying the draft law was non-reformative.

In an interview with Al-Manar’s Panorama Today talk show, MP Fayyad said: “The first main note, which also represents our bloc’s stance, is that we oppose any excessive (tax) increase.

We consider that such increase doesn’t meet the Lebanese citizens’ financial capabilities.” The Hezbollah lawmaker noted that the “budget was set based on US Dollar exchange rate of 20,000 LBP,” warning that any change in this rate “could badly affect the stability of the budget.” “The third note, which we as a bloc stood up to is related to the recovery plan,” he added.

In this context, MP Fayyad vowed that the Loyalty to Resistance bloc will stand by the Lebanese people and defend their interests in such hard livelihood conditions.