The draft budget for 2022 was referred to the Parliament yesterday. At the same time a delegation from the International Monetary Fund began its talks in Beirut, in a tour considered by some to be positive and decisive for Lebanon to obtain aid amid the severe economic crisis it is experiencing.
However, the IMF is still waiting for Lebanon to start implementing the recovery plan, which is basically still unclear, especially that the draft budget does not meet the reforms required, but rather it is just a project to determine losses in an unfair way.
The Russian-Ukrainian crisis has contributed to raising fuel prices in Lebanon. The price of 95-octane gasoline rose by 7,000 LBP reaching 369,000 LBP, and 98-octane gasoline increased by 8,000 LBP reaching 379,000 LBP. Diesel oil increased by 3,000 LBP to 334,000 LBP, and cooking gas bottle dropped by 3,000 LBP to 273,000 LBP.
The member of the Syndicate of Gas Station Owners George Brax explained that the rise in global oil prices due to the Russian-Ukrainian crisis affected the fuel prices in Lebanon, despite the slight decline in the dollar exchange rate in the Lebanese market that are approved for pricing schedule.