Rising dollar in Lebanon forced taxi drivers to close their contacts – WORLD

The rise of the dollar in Lebanon forced taxi drivers to close their contacts– Commercial vehicle owners in Beirut reacted to the severe depreciation of the Lebanese lira against the dollar and the harsh living conditions by closing contacts.BEIRUT (AA) – In the Lebanese capital, Beirut, commercial vehicle owners have protested against the severe depreciation of the Lebanese lira against the dollar and harsh living conditions. Following the historic depreciation of the lira, many commercial vehicle owners protested the situation by closing their contacts. Speaking to AA, the taxi drivers said: “Gasoline prices and expenses are rising in the face of a rising dollar. The government does not interfere with gasoline prices.” Saying that costs have risen but revenues have not changed, the taxi drivers called on the government to “improve living conditions”. The protesters completed their actions without incident, blocking traffic for some time. economic crisis in lebanonLebanon is struggling with a severe economic crisis, especially since 2019. The problem of dollar liquidity at the Lebanese Central Bank and the melting of foreign exchange reserves caused other major crises in the country. The minimum wage, which was about $440 before the economic crisis, fell below $30 due to the depreciation of the Lebanese lira. His latest report on Lebanon, published in 2022, notes that said economic downturn can only be seen in countries that have witnessed the war. This figure is equivalent to three times Lebanon’s GDP in 2021.” expressions were used.