What is the inflation rate in Lebanon?

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What is the inflation rate in Lebanon?

In more details, the average inflation rate by September 2021 reached 132.98\%, higher than the average inflation rate of 66.13\% over the first nine months in 2020. Accordingly, all sub-components of Lebanon’s consumer price index (CPI) increased over the studied period.

Who is prime minister of Lebanon?

Najib MikatiLebanon / Prime minister
The Prime Minister is appointed (and removed) by the president of Lebanon, with no confirmation needed from the Parliament of Lebanon (before Taif Agreement, 1990) By convention, the office holder is always a Sunni Muslim. The current prime minister is Najib Mikati, having taken office on 10 September 2021.

How can we stop the financial crisis?

Sit down with a cool head and list down your income and expenses. If you are a family person, get your spouse involved in the discussion as well. Also look at the savings you have, and how much time can you sustain without any income. Then make a practical plan based on those numbers.

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How does Lebanon make money?

The Lebanese economy is service-oriented. The major economic sectors include metal products, banking, agriculture, chemicals, and transport equipment. Main growth sectors include banking and tourism. There are no restrictions on foreign exchange or capital movement.

Which country is suffering from highest inflation rate?

Venezuela
Venezuela With an inflation rate of 9,986\%, Venezuela has the highest inflation rate in the world. This is lower than Venezuela’s previous inflation rate of 14,291\%.

Why is Lebanon hyperinflation?

Lebanon is experiencing rapidly rising unemployment (over 35 per cent) and poverty rates exceeding 50 per cent of the population. With government revenues declining, growing budget deficits are increasingly financed by the Lebanese central bank (BDL), leading to the accelerating inflation.

What religion is the president of Lebanon?

The president is to be a Maronite Christian; The prime minister, a Sunni Muslim, and. The president of the National Assembly, a Shi’a Muslim.