Lebanon into an economic whirlpool

Category: World

Date: 2020-07-03T12:39:13+0000

Shafaq News / The Times magazine reported that “The current economic crisis in Lebanon has prompted many families to post ads on Facebook offering their own items for sale”
The newspaper reviewed in the report the difficult living conditions of the Lebanese people with the collapse of the currency and the rise in prices.
The report considered that the Director general of Lebanese Finance Ministry Alain Bifani after two decades in his job, is a clear" indication that workers in this field are suffering from a deep crisis."

“The Lebanese army can no longer provide meat in the soldiers meals, especially that prices in stores have tripled, and 80% of Lebanon's food is imported”, the magazine added.

at the service level, the report indicated that “The National Electrical Utility Company no longer has a international currency to purchase fuel for operating the stations, which led to an increase in the number of hours of power outages.

"Soon we will be like Venezuela, but at least Venezuela has oil," Sami Nader, director of the Levant Institute for Strategic Affairs said.
The report linked between the United States – Iran conflict and what Lebanon is suffering, continuing, "The overthrow of former Lebanese Prime Minister Saad Hariri, who is very close to the West, means that Lebanon's request for assistance from abroad will not have a positive impact or sympathy for Washington, and at the same time Iran is mired in its economic crisis and will not be able to do anything".

The newspaper said that the economic crisis led Secretary General Hassan of Hezbollah Hassan Nasrallah to try to recourse to China; to get financial aid.

Families selling old shoes and no meat for the army: Lebanon’s whirlpool of economic disaster