The collapse of the lira against the dollar … a dangerous...

Leah Al-Qazzi wrote in Al-Akhbar newspaper under the title “The Middle Class Collapses: Losing the Social Safety Belt?”: “The Lebanese middle class – a post-civil war version – loses its“ umbrella ”of security. A balanced class of middle class components joined the ranks of those affected by Economic policies, especially with the end of the “glory” of the 1,500 pounds dollars, the rise in consumer costs, the confiscation of the Bank of Lebanon and the banks of the US dollars, and the restrictions that they imposed on withdrawing from the Lebanese pound accounts. In the words of the economist, Roy Badaro, she was the one who was, to some extent, fraternity with the rentier and high interest system, so she “became aware” of its damages after it was hit by its strikes, and it was the beginning of the “cry” in the October 17 uprising that formed this class One of its pillars, especially in the cities: Beirut, Tripoli, and Jounieh.

In the report that the “United Nations Economic and Social Commission for Western Asia – ESCWA” completed last August, a paragraph was devoted to “the implications for middle-income and middle-class people”, revealing the results of “a major challenge facing Lebanon to preserve its demographic character, which is dominated by the income earners.” The average … The real challenge is that those with upper middle income and middle income, who represent the largest part of the human capital in the country, will have no choice but to emigrate. According to the published figures, the middle class (a person earns between $ 14 and $ 27 a day) has decreased from 45.6% in 2019 to 35.2% in 2020, and the upper middle class (a person earns between $ 27 and $ 34 a day) has dropped from 11.5%. In 2019, to 4.5% in 2020. Those who make more than $ 34 a day, their percentage has also decreased from 15% in 2019 to only 5% in 2020.

Why “concern” about the status of the middle class in a society in which the poverty rate has reached 55%? “Because it is the basis of vitality in the economy, at the cultural, educational, housing and consumption levels, in addition to engaging in political work and feeding it in exchange for a rich class allied with the powers of power,” says Nasser Yassin, professor of politics and planning at the American University of Beirut, citing the role he played Professionals, professors, doctors and lawyers on “October 17”. As for Yassin, “It is true that the lower classes are suffering greatly, but the decay of the middle class means the loss of part of Lebanon’s identity.” Read the full article Press here.

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