المركزي اللبناني يسعى لتعديل ميزانيته في 2024
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00:00 With the start of the new year, the financial and economic situation is escalating.
00:05 Lebanese are concerned and the issue of the unification of the exchange rate is being discussed.
00:09 Experts are concerned and they are looking forward to it.
00:11 Siam, after the Central Bank's decision, raised the dollar exchange rate from 85,500 Lira to 1 Dollar
00:18 to be equivalent to the black market price of 89,500 Lira and moving with it.
00:24 The Central Bank will be able to adjust its budget based on the unified exchange rate
00:30 and impose this adjustment on the budget of companies and banks,
00:33 especially since it is linked to the 15,000 Dollar, which determines the deposit rates.
00:39 The Central Bank wants to keep the monetary system in Lebanon in order to prevent inflation and the deterioration of the exchange rate.
00:48 Therefore, even if the exchange rate changes, the dollar exchange rate will remain the same.
00:55 The second point is the claims against the commercial banks in terms of capital.
01:00 This also affects the capital of the banks again, because when the exchange rate changed from 1,507 to 15,000,
01:09 the capital of the banks was withdrawn.
01:11 The capital of the banks was 21 billion dollars in the first half of 2019 and now it is 5 billion dollars.
01:21 The main reason is the change in the exchange rate.
01:26 If today it is also to be equivalent to 89,500 Lira and not compared to other reform measures,
01:33 this will lead to the bankruptcy of the banks.
01:38 The issue of unifying the exchange rate is one of the preconditions for obtaining Lebanon
01:43 on a loan from the International Monetary Fund worth 3 billion dollars.
01:47 The unification of the exchange rate puts limits on opportunities for great achievement
01:52 and reduces pressure on foreign monetary reserves by the Central Bank
01:56 and paves the way for the exchange rate, which is determined by the market forces.
02:00 But experts say that this process must be compared to the main financial and political factors
02:07 that the people in this field are concerned about.
02:10 The unification of the exchange rate has economic conditions.
02:13 The first condition is that the limits are met.
02:16 The second condition is that the amount of hard currency or the size of hard currency
02:21 that the country needs is estimated for its internal transactions,
02:24 if it is a dollar like Lebanon, and for its foreign transactions.
02:28 The unification of the exchange rate is outside the framework of economic theories.
02:34 Neither 89,500 Lira is a reflection of the situation of the Lebanese economy,
02:39 nor the number of the exchange rate, which is indicative of the general sector and some services,
02:44 is a number that is based on.
02:46 Therefore, the increase from the exchange rate to 89,500 Lira is wrong,
02:51 it is economically wrong, and it is an announcement to reduce the value of the currency.
02:56 Therefore, the decision of the Lebanese bank is a serious threat to the banking sectors,
03:01 as the unification of the exchange rate is part of the financial plan, which is going very slowly,
03:06 without agreeing, according to economists, with a comprehensive rescue plan
03:11 that takes into account the financial and economic collapse.
03:15 Between the unification of the exchange rate and its liberation,
03:18 Lebanon is expecting to approve the 2024 budget,
03:21 which is expected to be approved before the end of the constitutional period in January.
03:26 A budget that raised several questions about its figures and the huge amount of taxes that are included,
03:32 hoping to provide fair solutions to investors and stability to the financial and financial sector.
03:39 Elena Mrat, CNBC Arabia, Beirut.
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