Lebanon increases price of bread as subsidies are lifted ...Kuwait

News by : (The New Arab) -
Lebanon's ministry of economy and trade announced on Tuesday that the price of bread would go up for a fifth time this year. The price of bread will be raised by almost 20 percent from 2,750 to 3,250 Lebanese lira as a result of sugar subsidies being lifted, according to the ministry of economy. The move comes as Lebanon struggles with a worsening economic crisis with the Lebanese lira losing 90 percent of its value since the fall of 2019. The price of bread has more than doubled from its former price of 1,500 lira during this period. "Bread is a daily staple for the poor, we can't handle this for much longer," Castro Abdullah, the president of the National Federation

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