The Institute of International Finance estimated that the implementation of most of the proposed spending and revenues measures in the 2019 draft budget, along with improving tax compliance and fighting corruption, would help significantly narrow the fiscal deficit, reduce the public debt level and unlock the $11.2bn that the international community pledged at the CEDRE conference. It said that the planned fiscal adjustment measures aim to shift the primary fiscal balance from a current deficit to a surplus from 2019 onwards, through reducing non-priority expenditures, containing the public-sector wage bill, reforming Electricité du Liban (EdL), and raising tax revenues. 
    
The IIF indicated that tight monetary policy would support fiscal consolidation and would help maintain price stability, sustain the currency peg to the US dollar and attract adequate inflows of non-resident deposits. It added that the successful implementation of the fiscal adjustment would result in a gradual decline in interest rates and would provide an opportunity for Banque du Liban to strengthen its balance sheet. It noted that credible fiscal reforms would reduce the need for sustained capital inflows to finance the government's fiscal deficit, would send a positive signal to foreign investors and lead to faster deposit growth.

The IIF pointed out that the challenge facing the government is to move from the planning of reforms to the implementation phase. It projected the fiscal deficit to gradually narrow from 11.2% of GDP in 2018 to 8.4% of GDP in 2019 and 1.2% of GDP by 2023 in case authorities proceed with most of the planned fiscal measures, and if they fight corruption and improve tax collection. It noted that the fight against corruption needs an independent judiciary system and a prosecutor with special powers to protect him. It also forecast the public debt level to regress from 151.7% of GDP at the end of 2019 to 149.8% of GDP at end-2020 and 130.3% of GDP by the end of 2023.