December 29th according to local media reports, Prime Minister Diab of the Lebanese caretaker government said that 2021 will be very difficult for Lebanon.
He himself said that he had repeatedly asked the Central Bank of Lebanon about the amount of foreign exchange reserves available for subsidies for basic commodities such as food, fuel and medicine, but has not received an official reply.
According to reports, according to the public statement made by the Governor of the Central Bank of Lebanon last week, Lebanon currently has only $2 billion to use subsidies, and if the government adopts a quota system for import subsidies, the $2 billion will last for only six months.
In recent years, Lebanon’s economic situation has continued to be sluggish.
During the past year, the shortage of the US dollar has caused the Lebanese national currency to depreciate by nearly 80% and the inflation rate of more than 120%, which is the highest inflation in Lebanon since the end of the civil war in 1990.