Hassan Diab warns against lifting the subsidy on basic supplies in Lebanon (Hussein Baydoun)
Diab said, “The BDL’s tendency to lift subsidies is unacceptable at the present time, as social and living pressures are severe on the Lebanese, and their purchasing power has been sharply eroded as a result of the monetary collapse resulting from the previous financial policies that drained the country’s capabilities, impoverished the Lebanese, and caused these huge financial gaps in the finances of the state and the bank.” Lebanon and the deposits of the Lebanese. ”
He added, “No one is beseeching us to be careful Lebanese consumption precautionWe are the ones who made the historic decision to stop paying the debt, and if we had paid Eurobonds this year, which amounted to nearly $ 5 billion, the reserve would have decreased from $ 22.5 billion to $ 17.5 billion, and this would have been the criterion that the BDL is talking about today to lift subsidies on medicines. And foodstuffs, flour and fuel, have been applied since last March.
He pointed out that “what has been spent on importing medicines, foodstuffs, flour and fuel has reached, since the beginning of this year until today, about 4 billion dollars, and by the end of this year it may reach the equivalent of the value of the debt dues for this year that we refused to pay, in addition to that.” This amount is less than the usual annual bill of about $ 7 billion. “
The head of the caretaker government affirmed that “any step by the Banque du Liban to lift the subsidies is responsible for it with all those who support or cover such a decision, because it will lead to a social explosion whose consequences will be disastrous, and therefore the loss resulting from the continuation of the support is much less than the losses that will result.” On the subjective decision to lift the subsidy, it would be desirable if the Banque du Liban had paid attention to the financial policies that led to what the country reached.
Diab added, “We say with a full mouth, not to remove subsidies on medicine, flour, foodstuffs and fuel at the present time. Yes, in the current financial situation of the state, a rule of subsidy rationalization can be adopted, so that the people who really need it benefit from it, but I warn that canceling the subsidies will lead to disastrous results on the The Lebanese and the country. “
The Bank of Lebanon’s tendency to remove subsidies on basic materials in the life of the Lebanese citizen triggered a wave of outrage and great concern among the Lebanese who are living the worst economic and living crisis in the country’s history, especially in light of the rise of the dollar again, after it stabilized for a relatively long period at 7000 Lebanese pounds, before During the past few days, it has touched the nine thousand threshold, which automatically and unacceptably quickly contributed to raising the prices of commodities and foodstuffs.
The Lebanese markets, and supermarkets in particular, witnessed a crowd of citizens who, as soon as they heard the news of the possibility of lifting subsidies on the part of the Central Bank, rushed to purchase foodstuffs before their prices rose, which were already fictional, and the citizen could not bear more of the increase. Also, the news of the possibility of raising The support attached to the dollar crisis has led to the interruption of several commodities, whether medicines, foodstuffs, fuel, etc., and this has exacerbated the problem of the resurgence of smuggling on a larger scale.
The concerned authorities and trade unions in various sectors warned that the Banque du Liban had taken the step of lifting the subsidies, which would raise prices hysterically, threatening escalatory steps and cutting roads to confront the decision, especially in conjunction with the large crowd that is expected to be registered on the one-year anniversary of the October 17 uprising. .
On the other hand, Diab said, “What is required today, as soon as possible, and after two months of the government’s resignation, is the formation of a working government capable of dealing with the great challenges facing Lebanon and the Lebanese, because the country cannot wait another two months,” calling for “re-injecting life into the initiative.” Launched by French President Emmanuel Macron, and which focuses on reforms that closely coincide with the reform program that our government has put in place since its formation.
He pointed out that “national responsibility makes it imperative for all politicians, in any position and in any side, to rise to the level of anxiety that resides in the minds and hearts of the Lebanese, and to feel what the eyes are holding in the tears that mix with fear and sadness, and to be aware that the Lebanese ability to endure The pain is reeling in front of the stressful living and social diaries, and to take into account the patience of the Lebanese, which is about to run out, and that the October 17 uprising was a wake-up call, while the next uprising will be a revolution complete with elements, components, performance and accountability.
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