1705497135
While the government, through the 2024 budget discussed in Parliament, seeks to raise the official exchange rate of the dollar to 89,500 lira, there is a state of unrest and fear of negativity in the economic, trade union and popular bodies, which will have repercussions that have been experienced in recent times will destroy the achievements of a certain social stability, albeit relatively. Today someone is arguing for the need to accelerate the unification of dollar exchange rates or to abolish the exemptions and the support cloaked in populism that has led to it. It breaks the back of the Treasury and public finances. However, Lebanon’s commitment to guidelines and advice, and possibly also to the terms and conditions of the International Monetary Fund, in whole or in part, raises doubts among financial and economic experts about the ability of the exhausted sectors of society to endure the further increase in taxes, fees and the additional burdens that come with it associated with the implementation of this decision. Between the need to deal with the requirements of international institutions, the commitment to the scientific nature of modern financial systems and the establishment of the concept of exclusive “payout from assets”. in the accounts of the State, to permanently stop the dependence on central bank advances and borrowings from abroad and not to allow the State to neglect its role and function in caring for its citizens, especially those with limited income. The lower classes, which now make up about 80% of the entire Lebanese people, are asking more than one question: where is the state heading in its upcoming decisions? What adverse impacts and effects will there be if the exchange rate is raised to the limits of its near-total liberalization? Is the tariff dollar adjustment included in the decision? What offers or incentives will the state use in return to help protect the poor on the one hand and small and medium-sized companies or their remnants on the other? Liberalize or float the exchange rate accordingly On the one hand, the actual market price increases the imports of the State, on the other hand, it points the sword of bankruptcy at the budgets of the banking sector, whose sources are afraid and warn of the consequences of this step before seriously approaching the approval of the “ Capital” makes “control” and bank structuring laws as well as the agreement on a final and radical solution to the banks’ debts to the state and the Bank of Lebanon as well as the Bank of Lebanon’s debts to the state. However, this trend satisfies depositors whose deposits will return to…
Support independent journalism
Subscribe to “An-Nahar” premium service
For just $6
(This article is intended for subscribers of the Premium service)
Subscribe now Keywords
#Banking #fears #relief #among #depositors #employees #swallow #razor.. #unification #exchange #rate #reflected #sectors