2024-01-17 13:13:27
“Lebanon Debate”
The repercussions of Israel’s war on the Gaza Strip continue to affect the global economy after the escalation of the unrest in the southern Red Sea, which leads to an increase in shipping prices and reflects negatively on prices, which makes us await the next stage and what its repercussions will be on the prices of goods in Lebanon.
Economic expert and member of the Economic, Social and Environmental Council, Anis Abu Diab, believes that “there are a large number of Lebanese merchants, even though they were importing foodstuffs at the old transport price, that is, before the dangers witnessed by Bab al-Mandab and the Red Sea. They deliberately raised prices, and we see this with differences.” Prices from a market tour.
In an interview with Lebanon Debate, he regretted that “this matter will inevitably lead to an increase in the prices of imported goods and foodstuffs because crossing Bab al-Mandab causes high risks, which means that transport companies will take the Horn of Africa route in order to deliver goods, and this leads to an increase in the cost.” Transportation and insurance in the next stage, and this will reflect negatively on prices.”
However, expert Abu Diab confirms that “the rise in prices should not be more than 5% or 10%, but of course, due to the poor and absence of monitoring and accountability in Lebanon, prices will witness a crazy rise in the coming months, because there are merchants exploiting these opportunities to increase their profits.”
He points out that “the coming months will be difficult for the Lebanese if things remain as they are, so I hope that those concerned will take strict measures against monopolistic merchants to stop exploiting and raising prices, because there is great chaos in the markets and this is something that needs a political decision to curb it.”
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#bad #scenario #expected.. #difficult #months #ahead #Lebanese