Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The Lebanese economy in recent years is a triple crisis affecting the banking sector, economy and currency in recent years.
Israel’s recent war in the country has strengthened the difficulties, leaving Lebanon by destroying and uncertainty.
It is important to reconsider the main events in the last decade to understand the existing economic view.
‘Whatsapp tax’ protests, 2019
Although 2019 protests were given by the proposed tax on WhatsApp challenges, the main reason was a deep rage on the government’s failed policy, community, corruption and deep economic unequality.
The public confidence in the government decreased years, the controversial financial policy and the Central Bank in 2016 by providing financial instruments to attract foreign currency and submit financial instruments and reducing the banking system.
Sustainable budget deficits and exaggerated public sector salaries – In 2018, it has been increased by a large salary increase – a reliable effect.
Economic difficulty caused protest in October 2019 and exposed the country’s economic fragility.
https://www.youtube.com/watch?v=nkevcfqckkq
In March 2020, Prime Minister Hassan Diaz violated global supply chains, such as Covid-19 pandemia and owes the sovereign debt as Lebanese weaknesses.
Pandemic has further aggravated the already weakened healthcare system, which causes hospital beds and critical shortages of the necessary drugs.
Reliance on tourism and money transfers is especially sensitive to the global economic crisis of Lebanon.
Beirut Port Explosion, 2020
One of the most powerful nuclear explosions in August 2020 has destroyed Beirut.
Along with the extensive collapse of life in the capital, along with the loss of life, was deep rooted and negligent in the government that further further public confidence in the government.
In addition, the foreign investment is seriously inspired, and it is already a careful situation.
Lebanese pounds entered freedom for 2020, and the extensive inflation was fueled and the power of people exfoliates.
Then, in 2022, Russia raised the chains of global fuel and food supply affecting the countries affected by Ukraine and around the world.
Lebanon further strengthened that the government has increasingly strengthened to maintain the basic living standards, because the government has increasingly competing in order to provide increasingly important services.
Sali Hafiz: ‘Wonder Woman’ requires money
As the banking sector has become tourmoil since 2019 and in the third quarter of the year, banks have significantly limited opportunities to people’s deposits.
Then in September 2022 Sali Hafiz took a replica weapon and caught Beirut Bank to access their deposits. Immediately many Lebanons became a symbol of suffering and called “Wonder Woman”.
These complex crises have created a perfect storm by leaving Teetering on the edge of Lebanon’s fall.
Many families have been forced to sell dear values, trusting external money transfers. Again, it proved to be enough for many lifetimes.
Desperation, including Lebanese, including the emigrants, the emigrants, the secret of the nation’s hopes, neat sea trips, increased the secret of “boat men”.
In the third quarter of 2019, the government bilateral exchange rate regime – the official exchange rate and free market price – and certain goods, including fuel and drug prices.
This, starting in 2020, caused the deficiency of black markets for these goods and the development of black markets and is engaged in wide turns and widespread social anger until 2021.
Thus, by the end of 2022, the Prime Minister’s Najib Destroy, Pandemic, Port explosion, pandemic, port explosion, currency devaluation and global price increase in the mandate of President Michel Au have resulted in unprecedented economic and social distress.
The gloss of hope is poured
In 2023, the government stopped the printing of Lira banknotes, which helped to stabilize the exchange rate. In parallel, price controls finished the previous year, deficiency and black markets.
https://www.youtube.com/watch?v=dzawbb6xch0e
However, Hezbollah, Hezbollah started this hope on October 8, 2023, on October 8, 2023, on October 8, 2023. After the traditional traditions on the border, Israel launched a full-scale attack in the country by the end of 2024 by the end of 2024.
As a result, the World Bank was $ 5.1 billion in addition to the World Bank, $ 3.4 billion, including economic losses, including fertility and trade violations.
Combined, represent 40 percent of Lebano’s gross domestic product (GDP).
After the conflict, transport and logistics, which prevented the existing problems, aggravating existing problems, strongly affecting the destruction of infrastructure, are already affected by transport and logistics.
Loosen Hezbollah
Hezbollah has been a great role in the Lebanese society for decades in the southern city of Beirut, a great role in the support base in South and North Bekaa Valley.
However, his role was significantly violated with the war, effectively “distinguishes his contributions to the economic system,” he probably may have a negative impact on those who trust in his support.
https://www.youtube.com/watch?v=qx0cbprpl0w
Although the full macroeconomic influence is not clear yet, it can lead to more social and economic instability, taking notes the destructive focus on Hezbollah’s support base and noted the areas deprived of Hezbollah’s support.
Hopes for the future
Lebanon, President Yusif Hound and Prime Minister Nawaf Hello has a new government, and hopes are working on a high level for political will to implement the new government’s popular legitimacy.
A new government can investigate between potential avenues, increasing trade reform, trade and foreign investment and attractiveness to enterprises.
However, for at least ten years, the Lebanon is facing great problems created by deep-rooted problems.
What is done is to carry out economic reforms, maintain political stability and manage the complexity of the regional geopolitical landscapes.
As a result, the success of these efforts, the people of Lebanon, especially the most sensitive, poverty rate will be directly affected in a context since 2019.
The failure to deliver, more citizens were more citizens, including increased immigration and brain drain, including more citizens for further erosion.
