The Group of Economic Associations in Lebanon, which includes all the chambers of commerce, industry and agriculture in the country, as well as the Association of Banks in Lebanon, the Association of Lebanese industrialists, the Beirut Traders Association, the Association of Insurance Companies in Lebanon, and most of the other business and trade associations in the country, indicated that the government's financial recovery plan contains ''unconstitutional'' and ''dangerous'' measures that will adversely impact the economy and put additional strains on the private sector. It added that the government did not consult with any members of the Group of Economic Associations when drafting its plan, although members of the group represent major economic sectors and stakeholders in Lebanon. As such, it called on Parliament to refrain from endorsing the plan, which it considered to be ''destructive'' to the economy. 

The group indicated that the plan takes advantage of the current financial collapse and social turmoil to impose measures that aim to overturn Lebanon's liberal economic system and permanently change its economic identity. It added that the political system failed rather than the economic system, while it acknowledged the need to strengthen the private sector. Further, it pointed out that the plan intentionally acquits the political class and the public sector, while it unjustly blames the private sector for the current crisis. It considered that the private sector, including Lebanese expatriates, is being penalized through higher arbitrary taxes, while the public sector is almost completely spared.  

Further, it noted that the plan bypasses well-established constitutional principles, such as personal rights and private property, as well as violates the legal structure and harms the pillars of a liberal economy. It added that the program creates a climate of anxiety and legal uncertainties for businesses and investments. It also pointed out that the plan lacks credible measures that can successfully stimulate the economy, create a conducive business environment, achieve judicial independence, attract investors, reduce unemployment and create jobs. In addition, it said that the plan overlooks the much-needed structural reforms and, instead, repeats the same pledges and promises that successive governments made since the Paris I donor conference in 2001. It noted that the private sector, particularly the banking sector, has been responsive to the government's reform promises, but it considered that these pledges are no longer convincing. 

In addition, the group indicated that the plan presents clear steps to seize the funds of shareholders and depositors directly or through the creation of state-controlled funds. It considered that the plan repeats the previous ''deadly'' mistakes of entrusting the government once again to manage the country's resources through the funds that will be established, which will result in additional wasteful spending. It added that the alleged financial losses have been determined without any legal or accounting definitions, and even before the start of negotiations with creditors on the restructuring of the sovereign Eurobonds. It indicated that the government is implementing a rigid analytical approach to address the financing gap that seems like a liquidation of the economy, while authorities need to adopt a dynamic method based on a gradual exit from the crisis. 

In parallel, the group welcomed the government’s decision to engage with the International Monetary Fund (IMF) over a funded program, as it considered that this a ''step in the right direction'' that could help inject the needed liquidity in the economy. Finally, it hoped that the government will take the aforementioned comments into consideration, especially during the negotiations with the IMF, so that Lebanon does not miss its last opportunity for fiscal reforms and economic revival.