Lebanese Economy Hammered by Political Crisis, Debt

  • Economics
Lebanese Economy Hammered by Political Crisis, Debt

Ahmad Harb opened his perfume shop on the main street of Beirut’s commercial Hamra district 35 years ago, and his business has weathered security and political crises in this volatile country, including a civil war.

He says this year has been the worst he’s seen: Sales dropped by 90 percent and after the landlord raised the rent, he was finally forced to close the shop and move to a smaller, less expensive location nearby.

“There is no business. Nothing works in this country, everything is very expensive,” Harb said, standing woefully outside his shuttered shop.

Read the full article at The Daily Star: https://goo.gl/yMj9j4

Source: The Daily Star