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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The Lebanese army has scrapped meat from all meals it offers to soldiers on duty as food prices skyrocket because of a deepening economic crisis, state media said Tuesday. Lebanon is in the throes of its worst economic downturn since the 1975-1990 civil war, with poverty surging to now afflict around half of the population. Although its currency is officially pegged at 1,507 pounds to the dollar, a shortage of hard currency has seen its black market value plummet to more than 8,000 to the greenback. As a result, food prices have shot up by at least 72 percent since the autumn, the non-governmental Consumer Protection Association says. Prices are expected to climb further as the currency continues to dive. Lebanon's army has "completely scrapped meat from meals offered to soldiers while they are on duty", the National News Agency said, citing the economic crisis. On Tuesday, a kilogramme of lamb was selling for around 80,000 Lebanese pounds ($53 at the official rate), up from 30,000 pounds ($20 at the official rate) two months ago. The price of a kilogramme of beef has shot up from 18,000 pounds ($12) to more than 50,000 ($33). Economy Minister Raoul Nehme announced on Tuesday the price of a 900-gramme packet of bread will climb from 1,500 ($1) to 2,000 Lebanese pounds, according to the NNA. Lebanon relies on imports for most of its food, but a scarcity of dollars and a plummeting local currency have made such imports both costly and difficult. Lebanon, which has a sovereign debt equivalent to 170 percent of its GDP, defaulted on its debt in March for the first time in its history. The economic crunch has sparked months of unprecedented protests against official corruption and the banking sector. The union of butchers and cattle farmers said Tuesday that more than 60 percent of butcher shops had closed in recent weeks. It blamed the collapse of the pound and a decision by commercial banks to halt dollar withdrawals and transfers. After a meeting on Tuesday, the union addressed authorities, saying: "either you release our trapped dollar savings from banks or you support the livestock sector... otherwise we will have no choice but to completely close down." lar/ho/sw
schema:headline	Lebanon army scraps meat from meals as prices skyrocket
schema:mentions	Network packet Black market Nehme (surname) Kilogram Bread Lebanon Government debt Pound sterling Beef United States dollar Poverty Gross domestic product Consumer Protection Association Raoul Island Angolan Civil War Hard currency Lebanese Armed Forces Fixed exchange-rate system Lebanese pound United States Note
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-30 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	71 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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