Economic authorities call for urgent action

Lebanese economic bodies discussed in an urgent meeting in the capital, Beirut, the deteriorating economic and social conditions resulting from global inflation, rising fuel and electricity prices, and increased taxes. They warned of a worsening situation that could lead to the closure of thousands of businesses and the loss of tens of thousands of jobs for Lebanese citizens, with international reports indicating an economic contraction of over 8%. The mobilization called on the government to take immediate measures, including suspending the fuel tax until the end of 2026, restarting the Saadiyat and Jiyeh power plants to boost electricity production, reducing tax burdens on companies, and holding coordinating meetings to stimulate the economy and improve living conditions. They emphasized that solutions must be comprehensive, integrating economic and social measures, and held the state responsible for the worsening circumstances.

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