Economically … positive is happening in Lebanon

The annual inflation rate in Lebanon recorded a sharp decrease to 14% last March, compared to 70% during the same month of last year, according to data issued by the Central Statistics Administration in Beirut. This decline is among the few indicators that reflect a kind of relative stability in the country’s crisis economic situation.

According to an economic source, he spoke toLebanon 24 This remarkable decline is mainly due to the stability of the exchange rate of the Lebanese lira, which remained since mid -2023 at the limits of 89,500 pounds against the US dollar, according to local media. This cash stability contributed to curbing prices, as well as that the prices during March of last year were exceptionally high, which strengthened the intensity of the relative decline recorded this year.

Despite the noticeable decrease annually, the data showed that the prices continued to rise, but at a limited pace on a monthly basis, as it recorded an increase of 0.44% in March. This increase included major sectors such as clothes, housing and home services, in addition to food and beverages, which indicates the continuation of some living pressures on citizens, despite the slowdown of inflation.

Commenting on these developments, the source added: “The decline in inflation rates is due primarily to the relative control of the exchange rate, in addition to the shrinking the size of the monetary bloc in the Lebanese pounds as a result of the strict monetary and government policies that the previous government and the Lebanon Bank have been intended since the middle of last year,” noting that “this apparent stability does not necessarily reflect a fundamental improvement in the economic reality, but rather a result of contraction in demand and weak commercial activity in a way general”.