Arab Today, arab today lebanese pm\s housing plan could price out local
Last Updated : GMT 10:41:25
Arab Today, arab today
Arab Today, arab today

Lebanese PM\'s housing plan could price out local

Arab Today, arab today

Arab Today, arab today Lebanese PM\'s housing plan could price out local

Beirut - Arabstoday

Lebanon\'s Prime Minister Najib Mikati’s proposal to allow real estate developers to add an additional floor in return for higher taxes could cause the prices of properties to soar beyond the means of average Lebanese citizens, economists say. The prime minister’s office is convinced that the new proposal would generate at least $500 million a year for the Treasury. But economist Ghazi Wazneh said the proposal, known as the “Mikati floor,” could secure revenues of $800 million in the first year. Wazneh added that the plan could also see up to 1.47 million square meters of additional constructed areas across Lebanon. But the economist warned that this type of tax could trigger an increase in the prices of properties, adding that this would exacerbate the housing crisis in the future. He warned that this tax would also dramatically alter the look of Lebanese cities and increase pressure on infrastructure. “Mikati’s proposal requires massive additional investments in infrastructure to cover the cost of the investment factor,” he explained. He and other economists recommended a series of reforms that could save the Treasury a significant amount of money. Among these measures is restructuring the troubled electricity sector, which is costing the Treasury more than $1.5 billion per year. They also urged the government to speed up the issuance of oil permits for companies to drill for gas off the Lebanese coast. Sources say that Central Bank governor Riad Salameh has advised Mikati not to take any hasty decision at this critical moment.  albwaba

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lebanese pm\s housing plan could price out local Arab Today, arab today lebanese pm\s housing plan could price out local

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lebanese pm\s housing plan could price out local Arab Today, arab today lebanese pm\s housing plan could price out local

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday