Crisis is Over: Positive Economic indicator

“Lebanon Debate”

Lebanon has reclaimed its position as the leading consumer of red meat among Arab countries, marking a reversal from several years of decline amidst the ongoing crises since 2019.

Economic expert Michel Kozah views the rise in individual red meat consumption as a sign of gradual recovery, fueled by widespread dollarization of salaries, with some even seeing increased incomes compared to pre-crisis levels.

Kozah noted that the dollarization extends across all sectors except for bank employees and government workers, whose situations remain unresolved amid the current economic conditions.

The expert anticipated improvements ahead, especially with the increased government revenues and the reopening of institutions.

Furthermore, Kozah highlighted several ongoing challenges facing Lebanon, including unresolved issues surrounding presidential elections, government formation, World Bank agreements, and the stalemate over bank depositor reimbursements.

He concluded by predicting that status quo of the dollar exchange rate will persist since no new Lebanese pounds are being printed.
However, he cautioned that a decision to utilize existing lira funds could potentially trigger inflation and impact the dollar exchange rate.

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