Speculation Drives Up Dollar Price

Economic expert Professor Jassem Ajaka confirmed that speculation has led to an increase in the dollar price in the parallel market. In an interview with "Voice of Lebanon," Ajaka stated that there is no ceiling to the influx of dollars that could help curb the rise of the dollar in the black market. He clarified that the Central Bank cannot intervene to stabilize the market due to its low reserves; rather, its intervention is aimed at drying up the market of Lebanese pounds. In response to a question about fears of a social explosion, Ajaka pointed out that there are external aids through foreign associations and internal assistance from local associations, and that part of the private sector receives salaries in dollars. He mentioned that the increases in public sector salaries have diminished, without ruling out the poor situation of workers if they do not receive adequate support.