The collapse of the economy in Lebanon is making it increasingly difficult for citizens to buy basic essentials, including food and fresh water, Arab48.com reported on Wednesday. The value of the currency has fallen to an unprecedented low.
Most Lebanese citizens have been affected by price hikes as a result of the ongoing financial crisis. Tens of thousands of them have totally or partially lose their sole source of income.
The people of Lebanon have expressed their anger at the situation by mass demonstrations since last October. They blame the politicians for not finding solutions to the multiple crises hitting their country.
The measures put in place to curb the spread of the Covid-19 pandemic have aggravated the already difficult situation leading to increased inflation. The prices of many food items have risen by an incredible 72 per cent since the end of May.
According to the World Bank, half of all Lebanese citizens now live under the poverty line. Economists are even predicting the disappearance of the country’s middle class.
NGOs and volunteers say that many families are unable to afford fresh water for their households. Salaries paid in Lebanese Lira that were worth $700 last summer are currently worth only $200.