| 21 May 2024, Tuesday |

How can Lebanese afford shopping, at a time the dollar surpassed 27,000 LBP?

Lebanese people are considered among the most spenders during the holidays. Usually the Christmas season constituted the largest percentage of the retail activity, as merchants depend on this season to compensate the economic stagnation that prevailed during the whole year.

However, household spending during the past two years has dropped dramatically, with purchasing power declining by more than 90 percent, and with the poverty rate in Lebanon exceeding 70 percent. How did shopping become worth 27,000 LBP?

To shed light on this subject, member of the Economic and Social Council, Adnan Rammal, joined us.

Rafik Hariri International Airport is witnessing remarkable activity in terms of arrivals, with the number of planes landing in Lebanon daily exceeding 90.

The Minister of Public Works and Transport, Ali Hamieh, announced that “in the last quarter of this year, starting from October 1, the number of arrivals to this day has reached 521,660 passengers. It is expected that till end of this year the number will exceed 600,000 arrivals.

Hamieh said that the number of arrivals will reach the same as it was in the last quarter of 2019, when the number reached 715,200.

  • Sawt Beirut International