{"id":276062,"date":"2020-07-07T19:04:37","date_gmt":"2020-07-07T22:04:37","guid":{"rendered":"https:\/\/anba.com.br\/?p=276062"},"modified":"2020-07-08T11:48:15","modified_gmt":"2020-07-08T14:48:15","slug":"lebanon-to-subsidize-basic-commodity-imports","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/lebanon-to-subsidize-basic-commodity-imports\/","title":{"rendered":"Lebanon to subsidize basic commodity imports"},"content":{"rendered":"<p>S\u00e3o Paulo \u2013 Lebanon\u2019s government will subsidize imports of an expanded food basket, it said this week. The state-run <em>National News Agency<\/em> (<a href=\"http:\/\/nna-leb.gov.lb\/en\/show-news\/117547\/Diab-chairs-meeting-devoted-to-supporting-food-basket\" target=\"_blank\" rel=\"noopener noreferrer\"><em>NNA<\/em><\/a>)\u00a0reported this Tuesday (7) that prime minister Hassan Diab met on Monday (6) with his cabinet and the Central Bank governor Riad Salameh to discuss the plans. The subsidies will be made public in the Official Gazette this week.<\/p>\n<p>Minister of Economy Raoul Nehme was quoted as saying that the goal is to ensure affordable staples are available to citizens, in an effort to increase citizens\u2019 purchasing power. Three hundred staples will be covered, including meat and meat-based products, oil products, vegetables, seeds, nuts, milk, tea, coffee and poultry.<\/p>\n<figure id=\"attachment_276054\" aria-describedby=\"caption-attachment-276054\" style=\"width: 260px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/anba.com.br\/wp-content\/uploads\/2020\/07\/5f04aa7bacf16_.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-276054 size-medium\" src=\"https:\/\/anba.com.br\/wp-content\/uploads\/2020\/07\/5f04aa7bacf16_-260x300.jpg\" alt=\"\" width=\"260\" height=\"300\" srcset=\"https:\/\/anba.com.br\/wp-content\/uploads\/2020\/07\/5f04aa7bacf16_-260x300.jpg 260w, https:\/\/anba.com.br\/wp-content\/uploads\/2020\/07\/5f04aa7bacf16_.jpg 600w\" sizes=\"(max-width: 260px) 100vw, 260px\" \/><\/a><figcaption id=\"caption-attachment-276054\" class=\"wp-caption-text\">Lebanon minister of Economy Raoul Nehme sat in a meeting to outline subsidies on staples<\/figcaption><\/figure>\n<p>\u201cWe will monitor the prices and pursue traders or distributors in the event of tampering,\u201d said Nehme according to the <em>NNA.<\/em><\/p>\n<p>Central Bank governor Salameh also said the board has decided to \u201cpump dollars through banks in exchange for cash payment in Lebanese pounds by merchants, industrialists and all those who deal with agricultural materials.\u201d This is intended to keep inflation and exchange rate fluctuations separate and to protect purchasing power.<\/p>\n<p>Nehme also said subsidies on staples will cover 80% of domestic- and foreign-made or grown items alike.<\/p>\n<p>This is the second food basket to be made available in Lebanon. \u201cSome foodstuffs\u2019 prices have decreased in the primary basket, such as the Egyptian rice; in this new basket, we expect prices to decrease further and we will monitor them,\u201d <em>NNA<\/em> quoted Nehmen as saying.<\/p>\n<p><strong>Translated by Gabriel Pomerancblum <\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-276060\">Ibrahim Chalhoub\/AFP<\/div>\n<div class=\"credits-overlay\" data-target=\".wp-image-276054\">Press Release<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The administration convened this week to outline actions intended to keep exchange rate fluctuations in check and protect purchasing power.<\/p>\n","protected":false},"author":2316,"featured_media":276060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[114],"tags":[9586,1869,10669,9907,1916,2062,2859,11914,2189,4642,10401,1870,9557,16116,6068],"class_list":{"0":"post-276062","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-lebanon-en","9":"tag-beef","10":"tag-cafe-ar","11":"tag-chicken-en","12":"tag-coffee","13":"tag-commodities","14":"tag-exchange-rate","15":"tag-frango-en-2","16":"tag-import","17":"tag-importacao-en","18":"tag-incentive","19":"tag-meat","20":"tag-poultry-en","21":"tag-subsidio","22":"tag-tax"},"wps_subtitle":"The administration convened this week to outline actions intended to keep exchange rate fluctuations in check and protect purchasing power. 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