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AP National Business

Anger in Lebanon over central bank ending of fuel subsidies

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Published 4:15 AM

By BASSEM MROUE
Associated Press

BEIRUT (AP) — Protesters have closed roads in different parts of Lebanon, angry over the central bank’s decision to end subsidies for fuel products. The decision is likely to hike prices of almost all commodities amid a paralyzing economic crisis. The outgoing prime minister described the decision by the central bank’s governor as “irresponsible” and illegal and vowed during a meeting with Cabinet members to keep going with the subsidies. The move had been anticipated for months as the bank’s reserves dry up. However, politicians on Thursday distanced themselves from the decision and criticized the central bank’s governor, Riad Salameh.

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