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According to the United Nations, 55% of Lebanese live below the poverty line, that is, on less than $ 3.84 a day.
Arabic site books. Net: “Lebanon is experiencing the repercussions of a protracted economic crisis that depleted its population and deposits, as well as exacerbating rates of inflation, poverty and unemployment and causing a continued free fall of the pound.
Below are the repercussions of the unprecedented numerical collapse:
The collapse of the lyre
The lira has lost around 90% of its value since the start of the economic crisis. As the official exchange rate is still set at 1507 pounds against the dollar, while on Tuesday it crossed the threshold of 15 thousand on the black market.
55% of Lebanese are at risk of poverty … less than $ 4 a day
According to the United Nations, 55% of Lebanese live below the poverty line, that is, less than $ 3.84 a day.
The percentage of the population living in extreme poverty rose to 23%, according to the same source.
According to a survey carried out by the World Food Program and the World Bank at the end of 2020, 35% of the surveyed families reduced the number of their daily meals.
The price of a bag of bread increased by 90%.
At the end of 2020, the annual inflation rate was 145.8%, according to official statistics.
According to the World Food Program, the inflation rate for food products has exceeded 400%. The price of a food basket that mainly includes rice, bulgur, pasta and oil has almost tripled since October 2019, according to the program.
The price of a bag of bread has increased by 91.5% since May 2020, due to a successive price change and weight loss.
And after a bag of bread sold for 1,500 pounds, today it costs 2,500 pounds.
And in early March, the price of meat rose 110% in one year, compared to 65% for chickens, according to the World Bank.
Minimum salary of $ 45!
In the summer of 2019, the average employee salary was 950,000 Lebanese pounds, according to the Central Statistics Department, which was equivalent to $ 627 according to the official exchange rate.
Today, due to the deterioration of the pound, it is worth less than $ 60 on the black market. Today the minimum wage is equivalent to about $ 45.
40% of people are unemployed
The unemployment rate at the end of 2020 was around 39.5%, according to a study carried out by the World Bank and the Food Program. Between 2019 and 2020, full-time jobs in the construction sector, for example, fell by 40%. The hotel and restaurant sector experienced a 31% drop, according to the United Nations.
25% shrinkage
During 2020, the authorities recorded a 25% contraction in gross domestic product, according to the International Monetary Fund.
The public debt is almost $ 100 billion.
Public debt reached $ 95.6 billion at the end of 2020, equivalent to 171.7% of GDP, according to the IMF.
Balance of payments … a record deficit of $ 10.2 billion
In a sign of declining remittances from abroad, the balance of payments posted a record deficit of $ 10.2 billion in the first 11 months of 2020, according to central bank statistics cited in a report published by Bank Audi.
Foreign currency reserves
In mid-March, central bank reserves reached $ 17.5 billion, according to the bank’s website, although analysts believe the figure is lower than that.
Last year, the reserve reached $ 30.3 billion, according to a report by the Byblos Bank Group that links the decrease in spending to subsidize imported goods, mainly fuel and wheat.
Poor support
246 million dollars is the value of a World Bank loan approved by Parliament last week, intended to support 147,000 families (some 786,000 Lebanese) from the poorest families. Each family will receive an amount of 200,000 Lebanese pounds, in addition to 100,000 pounds for each individual.
Electricity .. the calamity of the great country
The EDL covers 63% of the country’s needs, according to a study published by the American University on its website in December. Hours of rationing have recently increased in a country where blackouts range from 3 to 12 hours.
This sector is the most prominent source of waste and business, and has cost the state treasury more than $ 40 billion since 1992, equivalent to 40% of public debt.
Port explosion … $ 8 billion in economic losses
After the terrible explosion in the port on August 4, the World Bank estimated the damages and economic losses between $ 6.7 billion and $ 8.1 billion.
Refugees
According to estimates by the authorities, Lebanon is home to 1.5 million Syrian refugees, of which around 1 million are registered with the United Nations. About 91% of Syrian families live below the poverty line, according to the United Nations, which also says that nine out of ten Syrians suffer from extreme poverty.
Lebanon is also home to some 180,000 Palestinian refugees, according to official data, although other estimates suggest the number is much higher, reaching 500,000.
According to a survey conducted by the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) in May 2020, 80% of those surveyed lost their jobs or suffered a decrease in their income. 87% of the total of 27,000 Palestinians who came from Syria after the outbreak of the conflict live below the poverty line.
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