"Asharq Al-Awsat" newspaper reported that the financial crisis in Lebanon continues without any prospects for a solution, with no rescue plan in place since 2019.

According to a recent report by the World Bank, Lebanon recorded the highest nominal inflation rate in food prices worldwide, with prices rising by 350% in nominal terms and 80% in real terms between April 2022 and 2023.

However, the Lebanese people have managed to "coexist" with the economic collapse and the different quality of life they are experiencing, which is nothing like what they lived four years ago.

The most affected by the crisis are public sector employees, whose salaries have recently been increased by the government. These employees receive their dues in LBP, which has depreciated from LBP 1,500/dollar in late 2019 to LBP 95,000 currently.

Lebanese officials emphasize the need to read the inflation rates in their actual context.

The General Director of the Ministry of Economy, Mohammad Abou Haidar, told the newspaper that Lebanon imports 86% of food commodities, and thus any deterioration in the value of the national currency affects purchasing power.