Lebanese economic bodies have warned of a sharp deterioration in the country’s economic and social crises, stressing that the continuation of current pressures threatens the closure of thousands of institutions and the loss of tens of thousands of workers of their jobs.
This came during an emergency meeting held by the bodies at the headquarters of the Beirut and Mount Lebanon Chamber, to discuss the repercussions of inflation, the rise in fuel prices, the cost of electricity, and taxes, as well as the decline in business volume as a result of the ongoing war since 2023.
The bodies pointed to reports issued by international financial institutions indicating that the Lebanese economy has contracted by more than 8%, warning of the seriousness of this indicator and its direct repercussions on the private sector and the living capacity of citizens.
At the conclusion of their meeting, the bodies demanded that the economic and social files be placed at the top of the state’s priorities, including several demands, the most prominent of which were: suspending the 300,000 lira fee imposed on gasoline cans until the end of 2026, accelerating the restart of the Zouk and Jiyeh plants to increase electrical supply hours and reducing reliance on private generators, and reducing tax burdens on institutions while approving incentives to stimulate economic activity.
It also called for keeping the meetings of the relevant ministers open in coordination with the economic bodies and the General Labor Union, with the aim of formulating measures to improve the living situation.
The economic bodies stressed the importance of staying away from “unscientific, populist, and uncalculated” steps, stressing that overcoming the current crisis requires integrated and balanced solutions that the state bears its primary responsibility for confronting.
