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Lebanon Faces Billions In Economic Losses After Year of Clashes!
The World Bank reported that over a year of escalating clashes in Lebanon caused $5.1 billion in economic losses, with $3.4 billion in structural damage affecting nearly 100,000 homes.
Most of the housing damage estimated at $2.8 billion occurred in Lebanon’s war-torn south, particularly in Tyre, Nabatieh, Saida, Bint Jbeil, and Marjayoun.
The report highlighted that losses were primarily concentrated in commerce, tourism, hospitality, and agriculture sectors.
It also warned that the total damage and economic impact would far exceed $8.5 billion, with Lebanon’s real GDP growth for 2024 reduced by at least 6.6 percent.
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