Central Bank lifts
expensive fuel subsidies

AP

Lebanon’s central bank lifted its remaining subsidies on fuel on Monday, gas station owners said, ending a year-long process of scaling back on the expensive program.

The Central Bank over a year ago announced it would gradually lift fuel subsidies, to slow down the draining of its foreign exchange reserves. Fuel subsidies once cost the cash-strapped country some $3 billion annually. Last week, it subsidized just 20% of the cost of fuel imports. FULL STORY