The union of butchers and livestock dealers in Lebanon announced on Friday that the purchase of livestock has stopped because of the dollar exchange rate.
In a letter that the union sent to the government, the butchers and dealers announced that the insane rise in the exchange rate of the dollar and the Lebanese pound’s loss of its purchasing value led to this problem.
The union imports livestock in USD, which can’t be found now in the country. “The government isn’t giving any form of support on the issue,” the letter says, “and this substance comes second after bread.”
“The union has decided to stop working… The union holds the government accountable for the loss and high prices of meat,” they said.
Evidently, this will also affect the restaurants in Lebanon. Noting that this same issue is causing several other industries in Lebanon to stop working.
Hospitals, for example, can only receive now critical cases, and the reason is the same: the lack of U.S. dollars in the market and the high USD/LBP exchange rates.
يحق لأي مواطن الدخول فورا" إلى المستشفى في الحالات الطارئة شرط الحصول على موافقة لاحقة#نحنا_حدّك pic.twitter.com/Qqze6Ho3SB— Ministry of Public Health – Lebanon (@mophleb) June 12, 2020
The owners of electric generators in Tyre recently announced that they no longer have any diesel fuel reserves to keep electricity flowing in the region for long.
Same with the food prices that have increased by 70% and most swimming pools couldn’t open this summer.
The hit of the dollar issue has been ruinous on many businesses and all sectors.
However, it appears that Lebanon’s economy hasn’t seen the last of its troubles yet as most assumed.
A sector after another is declaring its critical status of reaching the end. The devaluation of the Lebanese pound has reached a disastrous low, triggering protests to break out across the country.