
BEIRUT, Lebanon, (UPI) – ByDalal Saoud — – With no new government in sight to adopt reforms that would release urgently needed international aid, poverty is growing in Lebanon, with a pervasive fear that it’s going to get worse. The streets are increasingly filled with beggars, mostly Syrian refugees. The minimum monthly wage has fallen to 600,000 Lebanese lira, the equivalent of $400 just a year ago, currently worth $69 at the black market rate. In August, the United Nations Economic and Social Commission for Western Asia estimated Lebanon’s poverty rate had surged to 55 percent in May, compared to 28 percent last year. Bader Jamal el Naboulsi, a construction worker from the Bab al-Tabbaneh neighborhood in Tripoli, has been jobless for months. “Now, I just do anything like cleaning homes and carpets or [work] as porter to raise at the end of the day 25,000 LL,” which equates to $16 at the official rate and less than $3 at the black market rate, Naboulsi, a father of eight, told UPI. “Some days we sleep without food. I never beg for anything.”
But his wife, Rima, is obliged to ask her neighbors for “bread, potatoes or anything they can spare” to feed her children. “I need at least 50,000 LL just to put some food on the table for my children.” What the Lebanese people fear most is that the central bank will not be able to maintain the subsidy over basic commodities. What is left of its U.S. dollar reserves, estimated at $1.8 billion, barely allows it to continue subsidizing wheat, fuel and medicine at the official exchange rate of 1,507 Lebanese pound for $1, compared to LL 3,900 per U.S. dollar traded at the banks and nearly LL 8,700 in the black market. ADVERTISEMENT RELATED Lebanon’s acting prime minister resigns, endangering reform Already drivers are seen queuing up at the gas stations to fill their tanks while many are touring the pharmacies to get medications that are in short supply.