SAWT BEIRUT INTERNATIONAL

| 29 May 2024, Wednesday |

The link between lifting fuel subsidies and the purchasing power of citizens

The economic expert, Walid Abu Suleiman, indicated in a television interview, that “in the event of lifting subsidies on fuel, consumption will be greatly affected, and we will find that it will decrease because the purchasing power of the citizen will weaken,” and pointed out that “the repercussions of lifting subsidies on fuel will lead To the rise in the prices of all products and food commodities.”

Abu Suleiman explained that “lifting the subsidy is paid for by the citizen in the first place, in addition to the depositor who cannot withdraw his money from banks except in the local currency.”

    Source:
  • Sawt Beirut International