Lebanon’s caretaker government agreed on Tuesday that subsidies on bread and essential medicine should be kept, as the country’s financial meltdown sends poverty and inflation soaring.
At a meeting on subsidy rationing with the central bank governor and an advisor to the president, ministers pledged to draft a plan within a week that would help cut spending while keeping support for some basic goods. With foreign reserves dwindling fast and an end to subsidies looming, Lebanon’s leaders have yet to make any substantive moves towards a plan to back imports or help the country’s most vulnerable. — Reuters
Oman Observer is now on the WhatsApp channel. Click here
