Title: Lebanese President States State Treasury Will Bear Cost of Continued Fuel Subsidies

Lebanese President Michel Aoun stated that the state treasury will bear the cost of continuing fuel subsidies decided on Saturday. The Central Bank of Lebanon previously mentioned on Saturday that the government decided to increase the exchange rate for fuel pricing to eight thousand Lebanese pounds per dollar from the previous rate of 3900, a decision that will lead to an increase in fuel prices. The new exchange rate designated for fuel imports remains below the market rate of about 19 thousand per dollar, indicating a continuation of fuel subsidy policies, albeit at a reduced level.