This Is Beirut 2024-04-29 12:52 - Reading : 2 minute(s)
In its report on "Lebanon's Poverty Outlook," the World Bank (WB) considers that the budget for fiscal year 2024 represents "a missed opportunity to adopt the necessary changes to the budget and fiscal policy," even though the latter plans to reduce the budget deficit to zero and achieve revenues of 17.3% of gross domestic product (GDP) in ...
This Is Beirut 2024-04-28 13:44 - Reading : 1 minute(s)
Lebanon’s Central Bank (BDL) is said to be actively working on completing the technical elements of the Bloomberg platform, aimed at "regulating" the exchange rate and the movement of purchases and transactions. This will enable financial market professionals to access the foreign exchange markets and trade currencies using the functionalities ...
2024-04-28 09:00 - Reading : 4 minute(s)
Ten billion dollars. This is the staggering figure of losses in Lebanon put forward by the Caretaker Minister of Economy, Amine Salam, as a result of the Israel-Hezbollah conflict. Beyond the human and material losses, there is an economic dimension that can no longer be ignored. For a country already at the bottom of the pit, this is one war too ...
This Is Beirut 2024-04-27 13:00 - Reading : less than a minute
Caretaker Finance Minister Youssef el-Khalil announced on Friday that "there will be no delay in disbursing the salaries of civil servants and military personnel." He indicated that the Ministry's employees would be working on Saturday and, if necessary, Sunday, in order to pay salaries on time. The latter will be transferred to the Banque du ...
This Is Beirut 2024-04-26 17:58 - Reading : 1 minute(s)
The president of the Importers of Food Products Syndicate, Hani Bohsali, stated on Friday that "food products are the least affected by the increase recorded in the Consumer Price Index (CPI) last March (+1.72%) and on an annual basis by 70.36%, especially since the index includes 16 other sectors, including alcohol, clothing, electricity, health, ...
This Is Beirut 2024-04-25 19:53 - Reading : less than a minute
In a press release on Thursday, the Ministry of Finance announced a possible delay in settling public sector salaries. The statement said that the delay was not due to the resignation of the Director of the Treasury, but to a malfunction in the Ministry's electronic system on Thursday, which technicians are working to repair as quickly as ...
This Is Beirut 2024-04-25 17:36 - Reading : 2 minute(s)
Caretaker Prime Minister Najib Mikati emphasized that one of his government’s key objectives is “striving to address the current economic and financial crisis by primarily approving the capital control law.” During his speech at the Union of Arab Banks (UAB) conference on Thursday, themed “Arab Economic Security in Light of Geopolitical ...
This Is Beirut 2024-04-25 13:17 - Reading : less than a minute
Caretaker Agriculture Minister, Abbas Al Hajj Hassan, and representative of the World Food Program (WFP), Abdallah Wardat, signed on Wednesday a cooperation agreement on a project to combat food and nutritional insecurity. In a statement, the Agriculture Ministry declared that the WFP proposes to provide a package of technical assistance aimed at ...
This Is Beirut 2024-04-25 12:17 - Reading : less than a minute
The Ministry of Finance's press office announced on Wednesday that “a breakdown had occurred in the Ministry’s electronic systems, bringing all its IT services to a halt.” “Technical staff were mobilized to resolve the problem,” the statement added.
Nicolas Sbeih 2024-04-24 20:46 - Reading : 4 minute(s)
It's the deal of the moment: acquiring an apartment in Lebanon. An idea that seems bizarre given the advice raining down on you from all sides, without solicitation, urging you "not to invest a penny in this Lebanon that is drifting away." The justification for our counter-advice is that current prices on the market are historically at ...
This Is Beirut 2024-04-24 18:22 - Reading : 1 minute(s)
The caretaker Minister of Economy and Trade, Amin Salam, and Unicef's representative in Lebanon, Édouard Beigbeder, signed a joint action plan for the year 2024, comprising two components. The first is to activate the implementation of the salt iodization law by establishing mechanisms to strengthen the capacity of producers to adhere to the law, ...
This Is Beirut 2024-04-24 17:37 - Reading : less than a minute
Électricité du Liban (EDL) reiterated on Wednesday that customers can pay their bills in either dollars or Lebanese pounds. The public electricity supplier reaffirmed the right of citizens to choose the method of payment that suits them, in US dollars or Lebanese pounds, according to the exchange rate currently set by the Banque du Liban (BDL), ...