Lebanese Prime Minister Saad al-Hariri announced on Monday several decisions taken by his government to calm the massive protests witnessed in the country days ago, explaining that it is a step towards resolving the economic crisis.

Hariri revealed at a press conference held after an urgent government meeting at Baabda Palace in Beirut that the government decided to cut the salaries of Lebanese ministers and MPs in half, and stressed that the new budget will not include any additional taxes.

The prime minister acknowledged that the demonstrations are "the result of youth feeling of anger and despair," stressing that he would not ask the demonstrators to stop protesting.

On the other hand, Hariri expressed support for the demonstrators' demand for early parliamentary elections, saying that "the demonstrations broke many political barriers and regained a unified national identity in Lebanon."

Hariri gave his government partners 72 hours to take action to address the deteriorating situation in the country, threatening to resort to unspecified options.

Hariri said the banking sector will contribute to reducing the deficit by paying more taxes on bank profits, adding that the banking sector will contribute to reduce the deficit by paying more taxes on bank profits.

The Prime Minister noted that the government will work on the preparation of the draft law on the recovery of looted funds, in addition to the establishment of the National Anti-Corruption Commission by the end of this year.

Hariri also made clear that reforms include abolishing the Ministry of Information and other public institutions he said were "unnecessary."