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World – Lebanon
There are worrisome increases in the price chart in the last two weeks, and this calendar is likely to see more jumps in the coming weeks, amid the multiplicity of reasons that explain it.
In addition to the high dollar exchange rate on the black market, there are serious concerns about the lifting of subsidies. The last point, if it occurs without alternative procedures and measures, will cause the price of fuel to multiply. All of this coincides with a global rise in the price of a barrel of oil, amid Goldman Sachs expectations that the price of a barrel of Brent oil will reach $ 75 in the third quarter of this year.
In the context, some sources said that if subsidies were raised and the dollar rose to more than 9,000 Syrian pounds, and prices rose globally, the price of the petrol plate would reach 100,000 pounds and maybe more, which that if it happened it would predict serious repercussions at different levels.
Economist Antoine Farah said in a press interview that we are going through the most dangerous economic phase in Lebanon’s history and that it is regrettable that we are going to something more dangerous than that. The issue of support has become a process of squandering the depositors’ money, without the Lebanese citizen benefiting from it.
Believing that the interim prime minister, Hassan Diab, does not want to make a decision to rationalize the subsidy because it may increase the cost to the citizen, and does not want to assume this responsibility, and the governor of the Banque du Liban, Riad Salameh, does not want to take such decision because it is not one of their powers first, and because of their fear of depositors money second. After the matter was referred to the House of Representatives, the House returned the ball to the government court, so everyone participated in a party to squander the depositors’ money and the country facing a dead end.
Farah said that the dollar has become homeless and can reach 25 thousand pounds by the end of the year, stressing that there is no solution but with a rescue plan and an agreement with the International Monetary Fund, but the obligatory path for all this . it is the formation of an independent government.
