The economic crisis that began in 2019 has led to a substantial loss of purchasing power for most Lebanese households. Triple-digit inflation rates, driven by a collapsing currency that lost 98 % of its pre-crisis value by December 2023, have exacerbated food insecurity and forced households to alter their diets. According to survey data from 2022 and 2023 by the World Bank, it reveals that 32 % of poor households had less than acceptable food consumption scores, indicating severe dietary compromises. Moreover, nearly 83% of all households had to rely on less preferred or cheaper foods, with the poorest twice as likely to cut meal portions, reduce the number of meals, borrow food, or seek assistance from relatives or friends.
The 2024 report titled “Lebanon Poverty and Equity Assessment 2024: Weathering a Protracted Crisis” by the World Bank provides a thorough examination of the escalating poverty and inequality in Lebanon. This review delves into the report’s findings, analysing the profound impact of the enduring economic crisis on Lebanese households, their coping mechanisms, and the changes in labour market dynamics.
Lebanon is grappling with a significant rise in both poverty and inequality. Over the past decade, poverty in Lebanon has significantly surged, more than tripled in some regions. Data from recent surveys in the governorates of Akkar, Beirut, Bekaa, North Lebanon, and Mount Lebanon illustrate a dramatic increase in consumption-based poverty, which climbed from 12 % in 2012 to 44 % by 2022. Within these areas, the proportion of Lebanese individuals living in poverty escalated from 11 % to one-third of the Lebanese population over the same period. Additionally, the depth of poverty, measured by the poverty gap, has deepened significantly, growing from 3 % in 2012 to 9.4 % in 2022, noting that the poverty gap is the ratio by which the mean income of the poor falls below the poverty line.
For the full report, click on the link below:
World Bank Poverty has tripled in Lebanon from a decade ago