According to a survey by “International Information,” a Lebanese family of four would need to spend a minimum of 20 to 26 million pounds every month (between 13 and 17 thousand dollars according to the official exchange rate).
The International Information noted that it conducted a study on the lowest cost of living for a Lebanese family of four people taking into account the differences between housing in the village or the city and between ownership and rental. It claimed that with the collapse of the exchange rate of the lira and the high prices, the cost of living increased automatically.
According to the study, the cost of living is between 20 million (13 thousand and 300 dollars, on the official exchange rate of 1500 Lebanese pounds, and 500 dollars, according to the dollar exchange rate on the black market, which is currently 40 thousand Lebanese pounds per dollar) and 26 million (17 One thousand and 300 dollars depending on the official exchange rate, and an average of 650 dollars) per month (15 thousand and 300 dollars, and 575 according to the black market exchange rate).
Since the end of 2019, Lebanon has experienced an economic crisis that the World Bank has ranked as one of the worst since 1850. More than 80% of Lebanese live in poverty, the native currency, the lira, has lost more than 95% of its value against the dollar, unemployment has climbed to nearly 30%, and the inflation rate has approached 100%, according to the minister of finance.
International Information + RT is the source.
A study that quantifies the Lebanese family’s bare basic expenses
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