Lebanese Minister: We lose $ 80 million a day due to economic paralysis

Minister of Economy in the Lebanese caretaker government, Mansour Bateesh, said on Wednesday that his country is losing between seventy and eighty million dollars a day due to the crisis and economic paralysis.

"Half of the movement is paralyzed in the country and every day the total income is 150 million dollars, which means that he loses every day at least seventy to eighty million dollars ... the crisis has worsened a lot and what is required is quick solutions ".

Since last October 17, Lebanon has witnessed popular protests demanding that those described by the protesters as corrupt be held accountable and that the looted money be refunded.

Political forces have not yet been able to agree to assign a figure to form the next government, since the protests forced Saad Hariri's government to resign on the 29th of last month.

The protesters insist on forming a government of technocrats capable of dealing with the political and economic situations, in a country that suffers the worst economic crisis since the civil war between 1975 and 1990.

Bateesh announced, "The availability of food supplies for a period of three months, and we will not reach the loss of foodstuffs ... The price increase is monitored by the Ministry of Economy."

He stressed that the lira (the national currency) is part of the state’s sovereignty and must be dealt with exclusively on the state’s lands, and some things need to be resolved and the free economy must be returned to a real free economy.

He pointed out that his country needs to import primary equipment, but in return it needs clear and strict procedures that will comfort the public opinion without prejudice to the rights of citizens.

Lebanon is witnessing an economic deterioration, in light of the accumulation of internal and external debts, to $ 86 billion, equivalent to 150% of the gross domestic product.