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Lebanon collapse

Lebanon is on the brink of collapse

We all knew it was coming, and here it is. The triple storm of a global pandemic, economic collapse and political standstill has lead Lebanon to the very edge of the line, where poverty no longer is a threat, but an everyday reality for most of the population.

The soaring inflation rate has rendered the Lebanese Lira almost obsolete. When the (mostly unemployed) people can only withdraw limited funds, prices like the ones we are seeing today seem almost like a joke.

The Lebanese are sinking into poverty, and the numbers have reflected that. The middle class is down to 35.2% from 45.6%, and the lower socio-economic classes have begun to blur as poverty spreads. Citizens who were once considered poor have now dropped into extreme poverty, the rate of which has risen to a catastrophic 23.2%.

The “food price index” increase, recorded at a shocking 441%, means that a kilo of meat went from 15,000LBP to 70,000LBP, a kilo of fish costs about 45,000LBP, and even cheaper items like potatoes and bananas went from 500-600LBP to a whopping 6,000LBP. Basics like eggs, rice, milk, cheese and sugar are all now unaffordable, as a simple bag of powedered milk, formerly costing around 6,000LBP, is now at an insane 50,000LBP.

As of this writing, not only have no solutions or aid plans been presented, but politicians are quite active, taking turns in throwing responsibility on someone else.

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