Al-Boustani Urges Economic Emergency and Gold Selloff

The article discusses the need to declare a state of economic emergency in Lebanon. Deputy Fared Al-Bustani called for selling one-third of the Central Bank’s gold reserves, which amount to approximately $15 billion, to use the proceeds for reimbursing depositors’ funds and stimulating the national economy. He also emphasized the importance of passing a financial regulation law and imposing fair taxes on large profits and marine assets. Additionally, he highlighted the necessity of restructuring the public sector to reduce the burden on citizens. He stressed that economic stimulation through these steps is essential amid the ongoing deterioration of the financial and monetary situation. Furthermore, he pointed out that the gold belongs to the people and must be managed in a way that serves the national interest.

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