Angry Lebanese protestors took to the streets and blocked roads across Lebanon on Thursday to express opposition to the central bank’s announcement that it could no longer afford to prop up fuel imports except at the black market rate.
The decision has been considered as a de facto end to fuel subsidies, as Lebanon’s economy continues to crumble.
Protestors blocked roads in the north, south and east of the country, as motorists in awaited in long queues outside petrol stations, AFP reports, rushing to fill up before the energy ministry officially announced the new prices.
The Information International think tank projects the cost of fuel to at least triple.
Lebanon’s economy has been struggling with the worst depression in its history, as half the population was propelled into poverty and the national currency lost 90% of its value.
The economic crisis has been exacerbated by a political gridlock following Beirut’s deadly port blast on August 2020 and the then-government’s resignation.
Billionaire Najib Mikati was appointed new Prime Minister-designate after Saad Hariri resigned due to multiple failed attempts to form a government.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.