Catastrophe warning
as Lebanese officials
lift high fuel subsidies

Al Jazeera

Authorities say $3bn fuel subsidies unsustainable, but critics fear petrol prices nearly doubling could further ignite social tensions.

Caretaker Prime Minister Hasan Diab approved a plan to decrease crucial fuel subsidies, a move observers warned could unleash a “social catastrophe” as the economy continues to crumble.

Diab said in a statement the decree on Friday to finance fuel imports at a rate higher than the official exchange rate aimed to secure a supply of fuel to last the next three months. FULL STORY