| 24 May 2024, Friday |

Lebanese Parliament: forming a government, lifting subsidies, and liberalizing the market

The general parliamentary session that was devoted to reading the message of President of the Republic, at the UNESCO Palace, ended. General Michel Aoun. Speaker of Parliament, Nabih Berri, said: “The solution lies in forming a new government as soon as possible, issuing the financing card, and liberalizing the market.”

After discussing the President’s letter, the House of Representatives issued a stance in favor of paying the financial card to the beneficiaries in cash and in US dollars in order to preserve purchasing power in the event of a change in exchange rates.

It added: “We demand to benefit from the $860 million transferred from the International Monetary Fund to cover part of the cost difference for the financing card, which exceeds the World Bank loan of $246 million, which is intended for families in need, but we do not agree to transfer the World Bank loan allocated for public transportation to the financing card account, Rather, we demand the implementation of the joint transportation plan to reduce the burden of transportation on citizens.”