Lebanon’s acting Minister of Economy, Amin Salam, voiced a serious warning today concerning the nation’s possibility of facing a famine due to a shortage of essential food items. The minister’s concerns were highlighted in his statements to the “CNBC Arabia” network.
Minister Salam was quoted by the network, explaining, “The government is feeding the Lebanese people from wheat ships, and any delay is detrimental. We are also relying on the private sector to stockpile wheat and grains sufficient for only a few months.”
Salam also drew attention to the fact that amidst the dire economic circumstances, Lebanon has been hosting over 2.5 million Arab refugees. He stressed the nation’s struggle with the absence of a strategic reserve stock of grains for over three years.
Furthermore, the minister emphasized the grave situation, with the Central Bank of Lebanon being unable to allocate funds to support basic needs. He warned that without a loan from the International Bank, the government would be incapable of securing grains.
Lebanon has been grappling with a significant economic crisis. Its financial system collapsed in 2019, leaving depositors unable to access their bank funds. Moreover, the local currency has lost nearly 98% of its value against the dollar. Simultaneously, the Gross Domestic Product (GDP) plummeted by about 40%, and inflation rates soared to record levels.
