Caretaker Minister of Economy, Amin Salam, warned of the delicate and serious economic situation in Lebanon, stressing that it entails “declaring a state of emergency in the country.”

In an interview with “Sputnik Radio”, Salam explained that ‘the longer the war in the south continues and its area expands, the more the economy will enter into the unknown, as the economic situation in Lebanon is completely exhausted, especially with regard to the public sector and government institutions.’

He stressed that “the war has exacerbated the economic crisis in Lebanon, and it has now become impossible to talk about economic growth or prosperity in the productive sectors,” denouncing “Israel’s targeting of the country’s agricultural sector, and its army’s burning of thousands of agricultural lands, which will cost the state billions of dollars to rehabilitate.”

Salam regretfully considered that the tourist season in Lebanon has ceased for an unknown period, following the ban on traveling to Lebanon for fear of war
expansion, the flight of labor outside the country, and the lack of job opportunities.

He said: ‘The next state budget will be very difficult, and anyone who says that Lebanon can endure this situation for more than a month is ignorant, as the war may take the country back to the Stone Age and drag the Lebanese to a dark and dangerous place.’

‘Lebanon’s economy is hanging on a thread, as the banking sector is in a state of permanent paralysis, and the currency exchange rate is fluctuating between the Central Bank and the concerned ministries, in addition to the deteriorating productive sectors,” deemed Salam.

He added: ‘Lebanon has a food stock sufficient to last for only 3 months,’ warning against “targeting air and sea facilities, and imposing a siege on the Lebanese state, which may deprive citizens of water and food.”

“Lebanon is going through a difficult stage without any preparations to endure the war, and the Lebanese state has collapsed and lost its liquidity, currency, and banking capabilities,”
revealed Salam.

While he praised the ability of his ministerial team to adopt a pricing policy in dollars and stop the corrupt platforms that manipulate the currency exchange rate, Salam warned that ‘the security and political conditions and the expansion of the war may lead to a deterioration in the exchange rate at any moment.’

He pointed out that “the plan drawn up by his ministry to confront any possible war is sufficient and can help Lebanon withstand, but it requires international funding.”

Salam said his ministry called for accelerating the entry of goods into Lebanon in preparation for their distribution, reassuring that ‘Lebanon will not enter into a food crisis unless the main ports are besieged.’

Source: National News Agency – Lebanon