Head of the Union of Food Importers, Hani Bohsali, expressed his satisfaction in a statement about the decrease in the exchange rate of the US dollar against the Lebanese lira, which would strengthen the purchasing power of the Lebanese people and stabilize the markets.
He hoped for the continuation of the downward trend of the dollar, especially with the influx of expatriates and tourists to Lebanon during the summer season, which is expected to inject at least $3 billion into the Lebanese markets.
Bohsali considered that “the increase in the value of the national currency is one of the main means to combat inflation and increase the purchasing power of the Lebanese people, enabling them to obtain their various basic needs, especially food items, and thus safeguarding their food security.”
He said, “The current decline in the exchange rate of the dollar in the Lebanese market, due to the prosperous summer season, confirms that there is a great possibility of reducing it significantly and thus restoring the Lebanese people’s income and purchasing power while maintaining their food security, provided that the state fulfills its duties by adopting a reliable and fair recovery plan and implementing comprehensive reforms.”
“Therefore, we urge the political forces to promptly proceed with the election of a president and the formation of a new Cabinet, whose priorities should be the implementation of this rescue agenda,” Bohsali concluded.
