THREAD: Lebanon from an economic and social outlook.
Lebanon is currently witnessing an unprecedented social & financial crisis.
Our crisis didn’t happen overnight; it roots go back to decisions made by the country’s corrupted political class since 1990.
Lebanon is currently witnessing an unprecedented social & financial crisis.
Our crisis didn’t happen overnight; it roots go back to decisions made by the country’s corrupted political class since 1990.
- No dollars, no fuel, no electricity, no water
- Awful phone signal
- USD reached 9500
- Haircut/devaluation up to 84%
- Unemployment, misery & hunger.
- No social security, no medicine.
- Education system falling apart.
- Default, bankruptcy & zombie banks.
- Corona.
- Awful phone signal
- USD reached 9500
- Haircut/devaluation up to 84%
- Unemployment, misery & hunger.
- No social security, no medicine.
- Education system falling apart.
- Default, bankruptcy & zombie banks.
- Corona.
Lebanon is witnessing an economics & social misery characterized by hyperinflation, shortages of basic necessities, increasing crime rate and instability while our rulers have no intention to reform & kick-start the economy.
The Venezuela scenario is knocking at the Door.
The Venezuela scenario is knocking at the Door.
Lebanon is riding the Corona curve as the confirmed cases reached a total of 3,104 & 43 deaths.
The outbreak has put extra pressure on an already crippling economy & health system. The staff in the governmental hospitals is under equipped in terms of safety guidelines.
The outbreak has put extra pressure on an already crippling economy & health system. The staff in the governmental hospitals is under equipped in terms of safety guidelines.
Absence of basic services like waste management.
Trash began piling up on the streets due to mismanagement because the state owes millions of $ to RAMCO.
In case the state settles its dues, it will be at 1500/$ while they are supposed to pay over 280 migrant workers in $.
Trash began piling up on the streets due to mismanagement because the state owes millions of $ to RAMCO.
In case the state settles its dues, it will be at 1500/$ while they are supposed to pay over 280 migrant workers in $.
As time passes by, the company has to pay for machinery maintenance and spare parts, which are in $.
If things do not change, they will not be able to continue on operating on the long run.
Same goes to every business whose income is in lira but their expenses are in real $.
If things do not change, they will not be able to continue on operating on the long run.
Same goes to every business whose income is in lira but their expenses are in real $.
The fall of the golden sector.
The education system in Lebanon was one of the rare assets we possessed. This sector is currently collapsing; it will only last 1 more year at best if things do not change.
Many currently can’t afford a pencil. RIP to “سلاحي قلمي “
The education system in Lebanon was one of the rare assets we possessed. This sector is currently collapsing; it will only last 1 more year at best if things do not change.
Many currently can’t afford a pencil. RIP to “سلاحي قلمي “
Schools are letting off their teachers بالجملة
800 AUB employees lost their jobs days ago. The bigger risk is that many corporations will follow their steps, creating a systematic risk on the whole employment sector.
As time goes by, the likelihood of losing our job increases
800 AUB employees lost their jobs days ago. The bigger risk is that many corporations will follow their steps, creating a systematic risk on the whole employment sector.
As time goes by, the likelihood of losing our job increases
Prices are skyrocketing, hunger is spreading.
The Lebanese lira lost 84% of its value since the beginning of 2019 while the unemployment rate is soaring (higher than 30%).
The army no longer gives meat to soldiers.
The Lebanese lira lost 84% of its value since the beginning of 2019 while the unemployment rate is soaring (higher than 30%).
The army no longer gives meat to soldiers.
Salaries in Lira or Lollars are worthless, our minimum wage reached 71$.
Many gone from living comfortably to living under the poverty line. A 1,200,000 LBP salary is currently worth 140$ (previously valued at 800$).
Others received pay-cuts.
Many gone from living comfortably to living under the poverty line. A 1,200,000 LBP salary is currently worth 140$ (previously valued at 800$).
Others received pay-cuts.
Decades of savings simply disappeared.
Depositors are willingly accepting a 70% haircut to exchange bankers’ checks (lollars) into real dollars.
The Middle class became les nouveaux pauvres.
Depositors are willingly accepting a 70% haircut to exchange bankers’ checks (lollars) into real dollars.
The Middle class became les nouveaux pauvres.
Lebanon is currently at the brink of starvation.
Citizens are selling all their assets (clothes, furniture and other items) on Facebook groups to cover the minimum basic necessities (milk, bread, rice cooking oil, etc).
Citizens are selling all their assets (clothes, furniture and other items) on Facebook groups to cover the minimum basic necessities (milk, bread, rice cooking oil, etc).
MAFI KAHRABA
Power cuts across the country have increased to reach 20 hours per day in Beirut.
On top of that, the state-run EDL deficit is around $1.8 billion per year (2018).
We also pay 2 electricity bills (EDL + generator), what a failure.
Power cuts across the country have increased to reach 20 hours per day in Beirut.
On top of that, the state-run EDL deficit is around $1.8 billion per year (2018).
We also pay 2 electricity bills (EDL + generator), what a failure.
We have reached a phase where we consider those with any job as being privileged, where we get happy whenever we’re able to buy a 100$, whenever there’s electricity, whenever there’s water, whenever we find food in the fridge.
If hell was a country, it would be Lebanon.
If hell was a country, it would be Lebanon.
We live in a failed state, the country is collapsing, so are we.
We are the ones paying the cost of delaying reforms & solutions to get out of this crisis.
It’s only going to get worse.
We are the ones paying the cost of delaying reforms & solutions to get out of this crisis.
It’s only going to get worse.
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