BDL to Ration Spending of $1.8 Billion Subsidy

  • Economics
BDL to Ration Spending of $1.8 Billion Subsidy

The Central Bank will ration spending of the remaining $1.8 billion foreign currency reserves to last longer than three months, a source close to the caretaker government revealed Wednesday.

The source also disclosed that the Lebanese authorities will create a special fund to help the needy families in Lebanon at a cost of $100 million a month.

“BDL has around $1.8 billion left for the subsidy program and the remaining $17.5 billion foreign currency reserves will not to be touched because they belong to the depositors. But BDL and the Finance Ministry are working on a plan to reduce the subsidies instead of lifting them in one shot,” the source told The Daily Star on condition of anonymity.

Read the Full Article at the Daily Star: https://bit.ly/33zGKS2

Source: The Daily Star