The first constraint (structural): This is the recurring old constraint of linking revenues to expenditures.
The second constraint (the shift from fiscal policy to monetary policy): This is a relatively new constraint in Lebanon, where fiscal policy has become a monetary policy tool. The budget collects money from people in Lebanese pounds but does not spend all of what it collects. Instead, it deposits the funds at Banque du Liban in order to reduce liquidity in the country and maintain the exchange rate, as a result of the absence of any fiscal reform over the past seven years.
The video presents another perspective related to the concept of sovereignty. Building an army capable of protecting society is not limited to simply removing weapons; it also requires providing the army with sufficient resources through taxation. The video notes that those calling for sovereignty often overlook the need to contribute by paying additional taxes to enable the army to fulfill its role in protecting society.
