Lebanon’s Inflation Rate at 6.5 Percent, Highest in Five Years

A deteriorating economy, alarming unemployment rates, a crumbling infrastructure, an ever increasing corruption rate and on top of all that increasing consumer prices. In this recent BLOM report, all components of the Consumer price index increased due to a jump in average oil prices but the VAT hike continues to "further inflate the prices of goods and services, thereby diminishing consumers’ purchasing power". In details, the average costs of “Housing and utilities” , which composed…

Unemployment Rate in #Lebanon at 46%?

I was just reading that President Aoun warned yesterday "that the grave economic situation, presence of Syrian refugees and the reluctance of Lebanese to take low-paid jobs has caused unemployment to soar to 46 percent", which is higher than any unemployment rate I've heard in the past 5 years. Less than a year ago, LBC shared a report stating that 25% of Lebanon's labor force is unemployed and that the unemployment affects primarily the young…
Business

VAT is Officially 11% Now in #Lebanon

8 months ago
The increase in VAT from 10 too 11% officials went into effect yesterday on Jan 1st 2018. The 1% increase is expected to lead to a 5 to 7% increase in the prices of goods, ...
Critiques

How will Tax Increase Affect Us?

1 year ago
The new taxes were approved and the laws were published Monday as a special appendix to the Official Gazette, which means that they are already in place as we speak. What are these new taxes? ...
Critiques

What does the VAT Increase from 10 to 11% Mean for You?

1 year ago
The newly approved VAT increase from 10% to 11% will have a negative impact on all Lebanese as it will lead to an increase in living expenses and a decrease in the purchase power. Some ...
Economics

2016/2017 Global Competitiveness Report: Public Trust in Politicians Still Improving in #Lebanon

1 year ago
Public trust in politicians has improved once again since last year as ranking improved by two spots from last year according to the 2016/2017 Global Competitiveness Report. I have no idea how this is happening ...
Economics

S&P: Lebanon’s Outlook Downgraded From “Stable” To “Negative”

3 years ago
Via NationalPost Standard & Poor’s has revised the outlook for Lebanon on the long-term ratings from “stable” to “negative”. We used to blame regional instability on the economic situation in Lebanon and it definitely has ...
Economics

The Lebanese Government Among The 10 Least Efficient Governments In The World

3 years ago
The World Economic Forum’s 2014-2015 Annual Global Competitiveness Report is out and it placed Lebanon among the 10 least efficient governments in the world. Lebanon is in fourth position behind Venezuela, Italy and Argentina. The ...
Economics

The Minimum Wage In Lebanon Compared To Others From Around The World

3 years ago
The minimum wage in Lebanon was increased three years ago from 500,000 ($330) to 675,000 ($450), yet a lot of people here still think it’s not enough and that it should be drastically increased. There’s ...
Economics

How Corrupt Are The Lebanese?

3 years ago
A survey was conducted by Sakker el Dekkene in order to evaluate the attitude of Lebanese citizens towards corruption and their willingness to compromise on their principles and bribe officials. 7810 doors were knocked and ...
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