Retired Servicemen Suspend Sit-in outside BDL
Retired servicemen on Monday blocked the entrances of Banque du Liban branches and blocked the vital highway of Dahr al-Baydar in protest at possible government plans to cut retirement salaries as part of austere measures to cut the state’s deficit.
The retirees suspended their sit-in outside BDL's headquarters in Hamra and outside the branches after a meeting with Defense Minister Elias Bou Saab in the afternoon.
The sit-in had blocked the vital Hamra Street for several hours.
The retired servicemen said Bou Saab promised them that he would ask Cabinet to drop budget articles pertaining to them.
They also said that they would hold general assemblies to discuss the developments.
On Sunday, the servicemen had vowed to stage protests and block vital facilities the next morning, warning to escalate their steps “that will paralyze all Lebanese regions.”
A Central Bank official assured earlier on Monday that the bank was functioning normally despite the protests outside.
The Banque du Liban is headquartered in Beirut and has branches in the various regions of Lebanon.
Lebanon is set to impose austerity measures to combat its bulging fiscal deficit. It is one of the world's most indebted countries, with public debt estimated at 141 percent of gross domestic product in 2018, according to credit ratings agency Moody's.
The budget for 2019 has yet to be finalized, but thousands of Lebanese public employees went on strike last week amid fears that their salaries and benefits would be cut as part of strict austerity measures to reduce a ballooning budget deficit and massive national debt. They included employees at Beirut's port, Social National Security Fund and the main state-run landline telephone company.
Source: Agence France Presse
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