"The clock is ticking. We do not have more time to waste," he said.

Meanwhile, Rached said that Lebanon needs a government capable of implementing reforms by approving a budget that includes real figures and not fake numbers.

He criticized the economic paper announced by Hariri before his resignation, saying that the paper is vague and it does not properly tackle Lebanon's problems.

"The paper included a plan to reduce budget deficit to 0 percent in 2020 state budget, which is not realistic at all," he said.

Economists also emphasized that banks' closure for a long period is only adding more pressure on the economy.

"Banks' closure is hurting the economy. People need to withdraw money to buy their needs, which would activate the economy a bit, not to forget that people also want to pay school fees for their children," Rached said.

Meanwhile, Layal Mansour, an economist and lecturer at the Lebanese American University, said that banks' closure is freezing all business transactions between suppliers and retailers.

George al-Hajj, president of the Federation of Syndicates of Bank Employees, announced on Saturday that his federation is waiting to be informed about the security measures that will be taken by the interior ministry in cooperation with internal security forces to protect banks in a bid to reopen the banks.

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