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Lebanon Economy


This move is expected to push up the price of gasoline, but should temporarily ease the shortage crisis. On Friday, Lebanon’s acting prime minister approved financing of fuel imports at a rate above the official exchange rate, reducing critical fuel subsidies amid worsening gasoline shortages. The move is likely to sharply raise the price of …

BEIRUT – It’s been over a month since Lebanese drivers started stand in line in their cars for hours to get gasoline amid fuel shortages. This added to the many crises the Lebanese are already going through, leaving them even more suspicious of their future. He has become commonplace seeing long queues in the streets …

The electricity crisis is so acute that the lights went out in a building owned by the Foreign Ministry, forcing employees to stop work, according to local media. This photo taken on June 23, 2021 shows a view of a mesh of elevated power lines along a street on the outskirts of Beirut, the capital …

Lebanon’s Economy Ministry raised the price of subsidized bread for the fifth time in a year amid the worsening economic and financial crisis in the small country Through Associated Press BASSEM MROUE June 22, 2021, 12:04 PM • 3 minutes to read Share on FacebookShare on twitterEmail this article BEIRUT – The Lebanese Ministry of …

The past year has brought immense challenges to all corners of the world, and this is especially true for the 80 million forcibly displaced people around the world. The COVID-19 pandemic has exacerbated the already precarious conditions of refugees, two-thirds of whom come from just five countries: Syria, Venezuela, Afghanistan, South Sudan and Myanmar (1). …

Gebran Bassil, leader of Lebanon’s largest Christian bloc, speaks during a parliamentary meeting at the UNESCO Palace in Beirut, Lebanon, May 22, 2021. REUTERS / Mohamed Azakir PARIS / BRUSSELS, June 18 (Reuters) – The European Union sanctions criteria being prepared for Lebanese politicians are likely corruption, obstructing government-forming efforts, financial mismanagement and violations of …

“We have to get used to it and be convinced that this subsidy from which we have benefited for a year or a year and a half (…) will end,” Lebanese Energy Minister Raymond Ghajar said on Thursday. Lebanon’s energy minister said on Thursday that the country’s oil subsidy was unsustainable and would eventually end. …

Unfavorable dollar exchange rates mean refugees and poor Lebanese have received less aid, even as prices for basic necessities soared amid an economic crisis * “Staggering” amounts of aid lost for the banks * Refugees and poor Lebanese are the hardest hit * Aid agencies fear potential damage to reputation By Timour Azhari BEIRUT, June …