Lebanons serious economic crisis will end with preferential exchange rate subsidy for imports

category:Finance
 Lebanons serious economic crisis will end with preferential exchange rate subsidy for imports


In recent years, Lebanons economy has been in a continuous downturn, with high public debt and high unemployment rate. Before the explosion in Beirut in early August, Lebanon was in the most serious economic crisis since independence in 1943 because of its huge debt arrears. Since March this year, the shortage of US dollars in Lebanon has led to a serious devaluation of the real value of the currency and soaring inflation. (CCTV reporter Guan Panpan)