US Secretary of State John Kerry has stressed the importance of electing a new president to Lebanese lawmakers during a visit to Beirut on 4 June.

Kerry said he is “troubled” by the political stalemate in Lebanon, and said it is “unfortunate that the parliament could not elect a president on schedule as the Lebanese constitution requires”, local media reported.

“It is far more important for the vacancy to be filled so the people of Lebanon can reap the benefits of a fully constituted, fully empowered government. That is important to Lebanon, it’s also important to the region, and it’s important for those who support Lebanon,” he said.

At the end of May, the deadline to elect a new president passed as parliament was divided on the election of the only two candidates that had stepped forward – Samir Geagea, leader of the Lebanese Forces, and Henri Helou of the Progressive Socialist Party. The search is now on for other contenders that may be able to gain a consensus.

An ongoing political stalemate between the country’s two major factions, each sympathising with opposite sides of the Syrian conflict, has frequently resulted in delays on decisions that need to be made.

Political progress is crucial to get Lebanon’s economy back on track, which in 2012 registered a deficit for the first time in years. The country, which is burdened by a slowdown in business, high energy import bills and the influx of more than a million Syrian refugees, is in dire need of reforms that can improve its public finances. But in order for that to happen, the country will first need to elect a president, which should be followed by the creation of a new parliament and cabinet.