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Maan Barazy

Founder 961medlive at Entrepreneurs Ventures Network HOLDING SAL

Maan Barazy is a multifaceted entrepreneur and business professional based in Beirut, Lebanon. He served as the Founder of 961medlive at Entrepreneurs Ventures Network HOLDING SAL from October 2020 to February 2023.1 Barazy is known for his roles as a Socialpreneur Relief Expert, Analyst, Economist, Mentor, Writer, and Certified Business Life Coach.12

Currently, Barazy holds several positions:

  1. Manager Founder at namarelief (since October 2024)
  2. Manager Founder at Opportunify.online (since August 2024)
  3. Manager Founder at Ecole961Online (since June 2024)
  4. Founder President of The Entrepreneurs Ventures Network Holding SAL (since August 2016)
  5. Publisher at Capital issues (since September 2000)

Barazy is passionate about driving innovation through AI and online marketing, generating leads, and nurturing startups from ideas to fruition.1 He has been involved in various entrepreneurial ventures, including the launch of the first telemedicine platform in the Middle East.

His expertise spans across digital transformation, advisory services, fintech, and improving capacity building modules for SMEs and startups.1 Barazy's focus is on connecting innovative, promising venture-backed, emerging growth, and early-stage companies with active investors.1

Highlights

Mar 18 · linkedin

According to the Central Administration of Statistics (CAS), the Consumer Price Index (CPI) displayed continuing rise in inflation rates since the end of 2019. Unfortunately, all the aforementioned causes exist simultaneously in Lebanon accompanied with the two main reasons for the extraordinary inflation: deterioration of the Lebanese currency and almost full dollarization of the country. The government has provided public sector employees a rise in salaries in LBP several times in order to end their strike due to the devalued wages after the deterioration of the Lebanese Pound on the parallel market which became insufficient to cover their basic needs. Also, the global high inflation rate, the war between Russia and Ukraine and the war in Gaza increased the prices of raw material that affected all countries including Lebanon that was already facing economic and financial problems. Moreover, Port of Beirut and customs tariffs skyrocketed after being dollarized. In addition, the taxes imposed by the government were increased in multiple folds in order to cover the operational expenses of the public sector. Furthermore, the currency in circulation increased at a rapid pace since 2019 as shown in the below table, in order to cover the depositors’ withdrawals from their USD deposits as per BDL circular 151. This reveals the escalation of CPI along with the increase in currency in circulation.

*Such decrease in currency in circulation is due to the BDL’s new strategy to withdraw currency in circulation to prevent the increase in the USD/LBP exchange rate. However, this didn’t decrease inflation due to the almost full dollarization of the country.   In terms of product category, Communication sector witnessed the highest inflation rate in 2022 mainly due to the amendment of telecommunication tariffs pricing from USD/LBP exchange rate of 1,500 to Sayrafa exchange rate (USD 1 = LBP 25,300 at that time) starting July 1, 2022. Moreover, Education sector witnessed the second highest inflation rate of 191.35% due to the fact that most if not all private schools and universities issued part of the 2022/2023 tuition fees in USD (banknotes) and the other in LBP at Sayrafa exchange rate.   When it comes to 2023, the Education sector earned the first place in inflation rate as it recorded 595.18%. The reason behind this extraordinary inflation rate is that the majority of the private schools and universities issued the 2023/2024 tuition fees mainly in USD (banknotes). Second came Food and Non-alcoholic beverages with annual inflation rate of 207.60% due to the war in the region and escalating conflicts at the Bab El Mandeb Strait, being a vital global maritime passageway that resulted in disruption of supply chain, an upturn in shipping costs, and consequently elevated consumer prices including Food and Non-alcoholic beverages.  

Mar 12 · linkedin

Thanks for Naqd had a wonderful experience with open minded journalists Follow us at Naqd.media

Related Questions

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Maan Barazy
Maan Barazy, photo 1
Maan Barazy, photo 2
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Location

Lebanon