Eng

Lebanese feel pinch of crisis-caused inflation as Christmas approaches

XINHUA
發布於 2021年12月12日18:37 • eblt

A boy inside a shop that sells Christmas decorations in Beirut,Lebanon, on Dec. 11, 2021. (Xinhua/Bilal Jawich)

BEIRUT, Dec. 12 (Xinhua) -- Marwan walks into Karout toys store in Beirut to buy a Christmas tree for his 10-year-old son. He left the store after inquiring about the Christmas tree's price, which costs around 700,000 Lebanese pounds (LBP).

廣告(請繼續閱讀本文)

The price is way out of his reach. There won't be enough money for the rest of the month's food if he buys the tree. "Unfortunately, this is the first time I've felt powerless and unable of purchasing what my son has asked for," Marwan said.

Average Lebanese have felt the pinch of the inflation in the country, after its currency started to depreciate against the U.S. dollar two years ago, when the country entered an economic crisis.

The Lebanese pound was tied to the dollar at a rate of 1,500 to 1 in 1997, and the two currencies were used interchangeably until October 2019. Since then, the currency lost up to 90 percent of its value, while the official rate remained the same since 1997.

廣告(請繼續閱讀本文)

With less than a month till Christmas, the crisis and worsening living conditions continue to have a significant impact on the lives of Lebanese who cannot afford to celebrate as they did in previous years.

A customer is shopping for Christmas decorations in a shop in Beirut, Lebanon, on Dec. 11, 2021.  (Xinhua/Bilal Jawich)

廣告(請繼續閱讀本文)

Prices of most items sold in Lebanon's stores have skyrocketed as they were imported and paid for in U.S. dollars.

People used to buy a Christmas tree for about 300,000 LBP, which was about 200 U.S. dollars, before the end of 2019. But 200 U.S. dollars currently is equal to around 5 million LBP, which is far more than the minimum monthly wage of 675,000 LBP, according to Zeinab Karout, owner of Karout toys store.

"Because most salaries in Lebanon are paid in the local currency, the rise in the price of the U.S. dollar forces people to limit their purchases to food and medicine," said Karout, adding she was only able to sell a few old, heavily discounted products she had bought when the dollar was still weak against the LBP.

People looking for Christmas trees and decorations change their minds when they convert prices from the U.S. dollar to the LBP, said Mireille Mrad, general manager of sales and purchasing at King Georges, a decoration shop.

"Only a few people can afford anything they want as they earn the U.S. dollars," said Mrad, adding a large percentage of her customers have asked her to mend their old trees and decorations rather than buying new ones in order to save money.

Mrad is saddened by how the economic crisis has stifled people's enthusiasm for Christmas and the joy of the season by forcing them to reconsider every purchase they make. "People are now more concerned with what to eat over the holidays than how to adorn their trees," she said.  ■

更多 Eng 相關文章

10,000 people dance together in China's Yunnan
XINHUA
America's tariffs turn world back to "law of jungle": Chinese envoy to Australia
XINHUA
Construction Industry Embraces AI Revolution at Glodon AEC Connect Day 2025 in Malaysia
PR Newswire (美通社)
CGTN: Unboxing economic policy tools: What's behind China's latest CPC leadership meeting?
PR Newswire (美通社)
Rare 400-year-old Ming Dynasty peonies in full bloom in N China
XINHUA
Interview: Bush China Foundation chair calls for closer U.S.-China collaboration, exchanges
XINHUA
Xinhua News | Trump administration to reverse termination of legal status of int'l students
XINHUA
The New DePin: OKZOO's Environmental AIoT Machine Network Leads New Tech Trend
PR Newswire (美通社)
GLOBALink | When robot athletes take over sports arenas
XINHUA
CCTV4: 20th China Film Huabiao Awards
PR Newswire (美通社)
GLOBALink | Int'l carton packaging machinery expo held in N China
XINHUA
Floral "waterfall" enthralls visitors in SW China
XINHUA
Xinhua News | Putin, Witkoff discuss prospect of direct Russia-Ukraine talks during meeting in Moscow
XINHUA
GLOBALink | Amid ongoing truce talks, Gazans express hope for lasting peace
XINHUA
Interview: Trump's tariffs ignore U.S. services surplus, risk global disruption, says German economist
XINHUA
Vivienne Westwood dazzles at Barcelona Bridal Night with an epic show
PR Newswire (美通社)
Improved sentiment fuels recovery in China's property market
XINHUA
Dining news: Tokyo’s Shogun Burger pops up at Regent Hong Kong, LPM launch aperitivo experience, and more
Tatler Hong Kong
Interview: Guinea-Bissau seeks to deepen media cooperation with China to diversify int'l communication -- minister
XINHUA