Our foreign currency reserves have reached a critical level ( $18 Billion ?) and the Central Bank was expected to stop subsidizing fuel, wheat and medicine a while back. The Beirut port blast delayed things a bit, but there are serious talks now about no longer subsidizing the fuel, especially after smuggling to Syria has resumed.
Let’s face it: the authorities are too incompetent to stop the smuggling, and there are parties facilitating the matter even, so the only way to stop it is to raise the gas prices. Unfortunately, it’s once again the Lebanese citizens who will be paying a hefty price as the gas tank price will potentially increase by 182% and may hit the LL70,000 mark.
In addition to the gas, medicine and medical equipment are starting to run out from pharmacies, as hospitals announced today they’re charging at the LL3,900 rate.
As far as the ruling parties are concerned, they’re still doing sh*t and wasting time instead of coming up with a decent government and kick off the reforms.