Lebanon's new PM pledges to stabilise economic meltdown

Beirut: Lebanon’s new Prime Minister Najib Mikati pledged on Friday to gain control of one of the world’s worst economic meltdowns, saying lifting subsidies would be critical for the small country’s Government formed after a year of political stalemate.

Holding back tears, Mikati, one of the richest men in the country, said he recognised the pain of Lebanese mothers who cannot feed their children or find aspirin to ease their ailments, as well as to students whose parents can no longer afford



to send them to school.

“The situation is difficult but not impossible to deal with if we cooperate,” Mikati told reporters at the presidential palace, where the new Government line-up was announced.

Lebanon has been without a fully empowered government since the catastrophic August 4, 2020 explosion at Beirut port, which forced the resignation of then Prime Minister Hassan Diab’s Government.