The economic slowdown has hit the retail markets hard, forcing merchants to reduce prices. (The Daily Star/Mohammad Azakir)
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Caretaker Finance Minister Ali Hassan Khalil said Friday that despite the difficult economic situation in the country the monetary and financial system was sound.Khalil was accompanied by MP Ibrahim Kanaan, the head of the Budget and Finance parliamentary Committee.Lebanese officials and Central Bank Gov. Riad Salameh have repeatedly brushed off speculations that the Lebanese lira is in danger, stressing that BDL has enough tools to keep the national currency stable.But nevertheless, experts have warned that the economic slowdown is getting even worse in the absence of radical reforms.Khalil said that a quick formation of the Cabinet would help economic recovery as the ministers will focus mainly on activating the economy and implementing reforms.
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