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World Bank Reveals: Poverty In Lebanon More Than Tripled Over A Decade
Poverty in Lebanon has more than tripled over the past decade, from 12% in 2012 to 44% in 2022, according to a new World Bank (WB) report.
NEWS: #Poverty in #Lebanon has more than tripled over the past decade reaching 44% of the total population.
1 out of every 3 Lebanese was poverty stricken in 2022.
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— World Bank MENA (@WorldBankMENA) May 23, 2024
Based on a recent household survey covering five Lebanese governorates: Akkar, Beirut, Beqaa, North Lebanon, and most of Mount Lebanon, it was revealed that in 2022, one in three Lebanese in these areas was poverty-stricken.
The Report builds on the Lebanon Household Survey 2022/2023: the 1st household consumption survey conducted in the past decade covering Lebanese, Syrians and other nationals in 5 governorates across the country. https://t.co/kNWqzBbvKD@WFPLebanon @UNHCRLebanon
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— World Bank MENA (@WorldBankMENA) May 23, 2024
The report, titled “Assessing Poverty and Equity in Lebanon 2024: Overcoming a Prolonged Crisis,” highlights the economic and financial crisis’s impact on households and labor market dynamics.
The @WorldBank's #Lebanon #Poverty and Equity Assessment 2024 examines the current state of poverty and inequality in the country and documents the impact of the ongoing crisis on households and its effect on labor market dynamics.
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— World Bank MENA (@WorldBankMENA) May 23, 2024
In response, the report calls for urgent policy interventions, emphasizing the need to enhance social assistance programs, improve targeting mechanisms for the poor, and expand coverage for essential resources like food, healthcare, and education.
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Additionally, investing in human capital, facilitating access to affordable public transportation, and fostering entrepreneurship are highlighted as key strategies to build household resilience amidst the crisis.
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