Lebanon Faces Potential Crisis

A report indicates that Lebanon faces the risk of a serious financial, economic, and social crisis, similar to the 2019 crisis. This is due to economic stagnation, a decline in expatriate remittance transfers, and increased taxes, especially on food items. Citizens are suffering from inflation in fuel prices, generator electricity costs, and reduced electricity hours. There is also a rise in demands from employees and escalating costs for education and basic needs as winter approaches. The government is moving towards imposing additional taxes and increasing revenue collection to address the fiscal deficit, which is approaching 37%. This is part of the World Bank’s policy to avoid sanctions.

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