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BEIRUT, June 16 (Xinhua) -- The head of Beirut Traders' Association said on Tuesday that over 25 percent of the shops in the Lebanese capital closed in the past six months over the U.S. dollar shortage and drop in people's purchasing power, the National News Agency reported.

"We also expect 25 percent more of shops to close during the coming six months given the current economic crisis," Nicolas Chammas said during a meeting held at Beirut's Chamber of Commerce, Industry and Agriculture with representatives of the different trade sectors in Lebanon.

Chammas urged officials to provide all traders with facilities to enable them to withdraw their deposits from banks and transfer money to buy products from abroad to maintain their businesses.

He also urged exemption of traders from income and municipality taxes in 2020.

Lebanon has witnessed in the past few months a shortage in the U.S. dollar amid an economic slowdown and the drop in cash injections from Lebanese abroad. Enditem