BEIRUT, July 9 (Xinhua) -- Lebanon's Parliament Speaker Nabih Berri warned on Monday that the country's economy will deteriorate if the new government is not formed soon.

"The situation in the country is not alright and I have previously warned that the economy will be deteriorating if the government formation is further delayed and I am saying again that the situation cannot remain as it is," Berri was quoted as saying by local media.

The prime minister-designate, however, said the atmosphere was very positive for the formation of the new government, suggesting that the process would be quick.

"This is why I postponed the elections of parliamentary committees till after the formation of the government," he said.

"But I assure you that if the situation remains the same, I will call the parliament to convene in a bid to elect parliamentary committees for them to be able to start with their duties," Berri added.

He also said a general parliament session will be called to discuss the current situation because it affects all segments of the society.

Despite succeeding in holding the first parliamentary elections in nine years, Lebanon still faces all hurdles that are hindering the cabinet formation.

Lebanon's political parties are raising demands for the biggest possible ministerial representation in the next government, delaying the process.

Economists told Xinhua that the authorities must speed up the formation of the new government to start the necessary reforms to benefit from the help pledged at CEDRE, an international conference in support of Lebanon development and reforms held in Paris on April 6.

Lebanon secured over 11 billion U.S. dollars in soft loans and grants from international donors at CEDRE to revamp its ailing infrastructure and bolster its economy.