Lebanon's Union of Bakeries threatened Friday of a compulsory work stoppage in the sector due to the economic crisis caused by the increasing exchange rates.
"Bakeries sell bread and its derivatives in the Lebanese pound, while they must pay for the flour and other substances in USD," said Head of the Union, Kazem Ibrahim.
"Importers deal with foreign currency only, which causes major losses incurred by the bakeries' owners due to the conversion from LBP to USD," he explained.
"The Union warns all officials that the bakeries' owners might be compelled to cease work," he said.
Source: National News Agency