Lebanon appeared to move closer on Wednesday to forming a new government after months of wrangling, with politicians from rival factions indicating it could happen this week, but the head of one party said not all points had been settled, Reuters reported.

Lebanon urgently needs a government to start addressing its extensive economic woes, which include a public debt equal to around 150 percent of national output and years of low growth.

Discussions over a unity government began after a national election last May, the first in nine years, and aimed to distribute cabinet positions among Lebanon’s main political blocs and according to its delicate sectarian balance.

Asked if the government would be formed within 24 to 48 hours, one politician, Abdul Rahim Mrad, told al-Jadeed TV: “I believe it will have been formed, I believe so because that is the atmosphere today.”

Mrad is one of six pro-Hezbollah Sunni Muslim members of parliament whose representation in the cabinet has been an obstacle to forming the government, to be led by prime minister-designate Saad al-Hariri, also a Sunni.

Hariri said on Tuesday that this week would be decisive in efforts to form the government, but warned it was “a last chance” to settle things.