PRESIDENT DISCUSSES ECONOMIC REALITY WITH ARBID

The President of the Republic, General Michel Aoun, received the chairman of the Economic and Social Council, Charles Arbid, and discussed with him economic conditions.

 

Arbid briefed President Aoun on the current economic situation in the country and the means to address it.

 

Arbid also said that he discussed the delay in the official announcement of the nature of the explosion that occurred in Beirut Port on August 4, with the President with the aim of enabling the institutions affected by its consequences to obtain compensation from insurance companies that are waiting to determine the causes and nature of the explosion in order to address the issue.

 

Moreover, Mr. Arbid pointed out that the meeting also tackled the proposal to close the country to address the repercussions of the spread of the “Corona” epidemic, indicating that the solution is not in complete lockdown, but in implementing the measures taken by the government and the anti-Corona committee, stressing that unexamined decisions are harmful to the economic sector.

 

“What is appropriate is to share the measures that the government intends to take with the concerned sectors” he continued.

 

Arbid added that he discussed with President Aoun the issue of lifting subsidies and the implications of this step on the economic and consumer situation in the country, suggesting that the subsidy be targeted and alternatives should be found, such as the ration card that the Central Bank will prepare, or request support from World Bank to this end.

 

Finally, Arbid referred to the rapid measures paper that was presented to the Council of Ministers in a previous session, to which the repercussions of the port explosion were added.

 

Source: National News Agency

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