After a month-long power struggle, a new government is in place in crisis-ridden Lebanon.

Prime Minister Najib Mikati and Head of State Michel Aoun agreed on a new cabinet on Friday.

The previous government resigned more than a year ago after the blast in the port of Beirut.

Since then, rivalries between the leading political forces have prevented the formation of a new cabinet.

A difficult task awaits Mikati, an entrepreneur and billionaire, and the other ministers.

The Mediterranean country has been experiencing the worst economic and financial crisis in its history for almost two years.

Large parts of the population have slipped into poverty.

The Lebanese lira has lost more than 90 percent of its value.

The country is also suffering from a severe supply crisis.

There is a lack of essential medicines and fuel to generate electricity, so that electricity is only available for a few hours a day.

Mikati was Prime Minister of Lebanon in 2005 and 2011.

Before him, two other politicians had failed to form a new government in the past few months.