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Lebanon: inflation could have risen to 275% without intervention

The Central Bank of Lebanon [Karan Jain/Flickr]
The Central Bank of Lebanon [Karan Jain/Flickr]

Lebanon's Central Bank said on Wednesday that its interventions had contained inflation at 84 per cent in recent months, adding that inflation could have risen to as high as 275 per cent if it had not acted, Reuters reports.

The bank also said that the government must come up with a plan for subsidies quickly to prevent wasting the country's reserves. It said that Lebanon faces a dangerous situation and warned of the "social and economic" consequences of any delay in acting.

Last week, the World Bank warned Lebanon that the country must be willing to implement some real changes in order to get international assistance.

READ: We will respond to Lebanon's unilateral steps on maritime borders

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