Beirut, Aug 27 (IANS): Ralph Tarraf, the European Union's (EU) Ambassador to Lebanon, expressed concerns over the rapid deterioration of the country, urging leaders to form a government i n effort to curb the crisis.

"We feel extreme concern about the rapid deterioration of the economic, financial, security and social crisis," Tarraf said on Thursday after meeting President Michel Aoun, carrying an urgent message from EU foreign policy chief Josep Borrell.

Tarraf said that the EU continues to provide aid to the Lebanese people but leaders need to assume their responsibilities, reports Xinhua news agency.

"There is no more time," he said.

Tarraf noted that the EU will increase its support once a government is formed.

"The EU will re-launch the negotiations on our partnership priorities with Lebanon. We will consider a Macro-Financial Assistance package, if a disbursing program with the International Monetary Fund is in place. We also offer our support to the 2022 electoral process," he said.

Lebanon has been facing a governmental deadlock for over a year now with the country suffering from a high poverty rate hovering over 50 percent, according to the World Bank.

The country is in dire need for a cabinet capable of implementing structural reforms to unlock international aid.