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Poverty Rate Expected To Reach 75% In Lebanon, According To World Bank
Due to the worsening economic crisis and the lira losing nearly 85% of its value, many Lebanese are moving closer to the brink of poverty.
According to a study conducted by the World Bank, more than 45% of Lebanese citizens are now living in poverty, and it is estimated that this rate could rise to 75%.
Despite continuous governmental “efforts” to manage the currency crash (including injecting dollars into the market and setting a higher rate for specific transactions), it seems as though chaos is still prevailing as the parallel currency market continues to thrive.
While Lebanon’s embattled population is on the edge, officials have shown zero commitment to creating genuine reforms. Luckily, many heartwarming initiatives have stepped in and taken on the role of helping families in need and minimizing the economic impact of this difficult period on them. Here are a few:
Lebanese Food Bank
Food Blessed
Bedayati
Make A Difference
What other initiatives do you know of?
More like this:
Lebanon’s Annual Inflation Rate Soars To 510%
Editorial Purpose: We are sharing this piece of content to give a voice to our people and possibly mobilize change.
“The middle class will become wiped out. Where they will go, I don’t know.” – Sara Daouk, a 34-year-old professional in #Beirut. #Poverty set to deepen with Lebanon’s economic #crisis: https://t.co/JNGgllBJex via @AJENews #economiccrisis #Lebanonprotests #lebanon24 #Lebanon 🇱🇧
— Anera (@ANERAorg) January 28, 2020
According to a study conducted by the World Bank, more than 45% of Lebanese citizens are now living in poverty, and it is estimated that this rate could rise to 75%.
Despite continuous governmental “efforts” to manage the currency crash (including injecting dollars into the market and setting a higher rate for specific transactions), it seems as though chaos is still prevailing as the parallel currency market continues to thrive.
While Lebanon’s embattled population is on the edge, officials have shown zero commitment to creating genuine reforms. Luckily, many heartwarming initiatives have stepped in and taken on the role of helping families in need and minimizing the economic impact of this difficult period on them. Here are a few:
Lebanese Food Bank
Food Blessed
Bedayati
Make A Difference
What other initiatives do you know of?
More like this:
Lebanon’s Annual Inflation Rate Soars To 510%
Editorial Purpose: We are sharing this piece of content to give a voice to our people and possibly mobilize change.