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Lebanese Acting Prime Minister Hassan Diab said today that any step to increase subsidies for basic products would lead to a “social explosion”, and he directed severe criticism of the Central Bank of Lebanon.
In a speech broadcast on television tonight, Diab, who resigned two months ago after the Beirut port explosion, said that what has been spent on importing medicines, food, flour and fuel has reached about $ 4,000. million since the beginning of this year.
Diab criticized the Governor of the Central Bank of Lebanon, Riad Salameh, noting that the central bank’s intention to lift subsidies will have disastrous results for Lebanon and its people.
He said: “If such a step is taken, the Bank of Lebanon will only assume its responsibility and repercussions with those who support it in this decision.”
He added that in the current financial situation of the Lebanese state it is possible to adopt the rule of “rationalizing support” so that the Lebanese people who really need it benefit.
Diab accused the Central Bank of Lebanon of “financing and supporting the financial policies of successive governments, which were based on wasting state funds and depositors in the banking sector.”
An official source told Reuters yesterday that Lebanon has foreign exchange reserves estimated at 1.8 billion dollars that can be made available to support staple foods and other imports, but that it could try to maintain them for another 6 months by canceling subsidies on some products. basic.
Parliamentary consultations are scheduled to begin on October 15 to elect a new prime minister, in an effort to push the divided Lebanese political elites to move towards the formation of the next government.
He called on political leaders to form a government quickly “because the country cannot wait another two months.”
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