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Subsidies Lifted Off Select Medications In Lebanon
In a tweet published by the Lebanese Ministry of Public Health, it was revealed that subsidies will be lifted off select medications later today.
The ministry has decided to lift subsidies off medications that currently cost less than $8 at the official rate (12,000 LL at 1,500 LL). This will result in these products being sold at either the bank rate of 3900 LL or an agreed upon rate of 15,000LL. Some might even be sold at the black market rate which exceeded 23,000 LL today.
This is set to dramatically increase the prices of these medications, for example, if you currently buy a medication for 5,000 LL, it may soon cost 50,000 LL.
The official list of subsidized and non-subsidized medications will be released later today.
With more than half the Lebanese population under the poverty line, the implications of this are devastating.
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— Ministry of Public Health – Lebanon (@mophleb) July 16, 2021
https://t.co/DrawlwzHOp pic.twitter.com/pFsjNJX1BU
The ministry has decided to lift subsidies off medications that currently cost less than $8 at the official rate (12,000 LL at 1,500 LL). This will result in these products being sold at either the bank rate of 3900 LL or an agreed upon rate of 15,000LL. Some might even be sold at the black market rate which exceeded 23,000 LL today.
This is set to dramatically increase the prices of these medications, for example, if you currently buy a medication for 5,000 LL, it may soon cost 50,000 LL.
The official list of subsidized and non-subsidized medications will be released later today.
With more than half the Lebanese population under the poverty line, the implications of this are devastating.