And he bears witness Lebanon A wave of displacement is the largest in its history, which has caused rent prices to rise in an unprecedented manner, and some have imposed difficult conditions on tenants, including paying several months in advance in addition to rising prices of goods such as basic supplies and blankets.
The inflation rate in Lebanon rose from 2.9 percent in 2019 to about 192 percent in December 2023, before it began to decline again, reaching 35 percent last August.
Despite this, the rise in prices still has a fundamental impact on the purchasing power of the Lebanese citizen, especially with the large difference between the official lira price and the black market price, the dollarization of a large part of the economy, and the country’s heavy reliance on imports to meet a large part of its needs.
The official exchange rate of lira in Central Bank of Lebanon A sharp decline from 1507.5 liras per dollar during 2019 to 15 thousand liras currently.
The international agency Standard & Poor’s had set scenarios for an expected significant decline in the value of the Lebanese pound against the dollar in the next few years from its currently stable levels of about 90,000 pounds per dollar.
The agency said that the Lebanese currency is expected to reach a level of 115,000 pounds per dollar in 2025, while it will reach approximately 136,000 pounds per dollar in 2026. It added that the Lebanese currency is expected to reach approximately 152,000 pounds per dollar in 2027.
Lebanon’s losses due to the war since October of last year amounted to about 10 billion dollars, while the Lebanese Ministry of Agriculture confirmed that the total expected losses in foreign currency flows from the agricultural sector may reach 1.6 billion dollars. Travel traffic at Beirut Airport also decreased between 30 percent and 40 percent in… Mid-September after about 30 airlines suspended flights to and from Beirut Airport.
