On the impact of the Lebanese economic crisis, which the World Bank has ranked among the worst in the world since 1850, the Lebanese pound has lost more than 95% of its value against the dollar, and more than 80% of the Lebanese are below the poverty line.
Many reasons lead to the rise in the dollar exchange rate, which is rising again to cross the threshold of 35,000 Lebanese pounds to one dollar.
The problem today in Lebanon lies in the dollarization of expenses, not income, especially at the level of basic expenses, apart from the start of the school year and the imposition of private schools that part of their premiums be paid in dollars, as well as health insurance, hospitals and others.
Where can the dollar reach in Lebanon?
The horizon is closed in light of political factors, rampant corruption in institutions, worsening economic and living conditions, and imminent elections, most notably the presidential elections with the end of President Michel Aoun’s term on October 31, which are accompanied by scenarios that warn of chaos. Can the Lebanese citizen bear more burdens and pressures?