UPDATE 1-Lebanon finance minister set to retain post - senior official
Lebanon is on track to form a new cabinet in the next few days, raising hopes after months of wrangling that has hurt the outlook for its struggling economy.
More than seven months since a parliamentary election, Lebanon's politicians have yet to agree a deal on the government as officials warn of economic crisis.
Prime Minister-designate Saad al-Hariri's efforts have faced conflicting demands for cabinet seats which must be parcelled out based on a delicate sectarian system.
Khalil, a top aide to Parliament Speaker Nabih Berri, told Reuters on Tuesday the process was "in the last phase". Berri's Amal party is allied to the Iran-backed Hezbollah movement.
The stagnant economy will be a top priority for the next government. Heavily indebted, Lebanon needs an administration that can set about long-stalled reforms to put public debt on a sustainable footing.
Lebanon is the world’s third-most indebted nation with a debt-to-GDP ratio of more than 150 percent. (Reporting by Laila Bassam; Writing by Ellen Francis; Editing by Hugh Lawson and Jon Boyle)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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