The conflict between Israel and Hezbollah has had a devastating impact on Lebanon, causing significant damage and human suffering. The recent Lebanese presidential and prime minister elections offered hope that the ceasefire might extend beyond its two-month period ending this month. However, the Lebanese economy has already suffered. The World Bank’s (WB) Lebanon Economic Monitor (LEM) report, titled “Mounting Burdens on a Crisis-Ridden Country,” estimates that the war caused Lebanon’s real GDP to shrink by 5.7% in 2024, resulting in a loss of $4.2 billion in tourism and consumption, compared to a projected 0.9% growth without the conflict.
For the full report, click on the below link:
WB – Lebanon’s Real GDP Estimated to Have Shrank by 5.7% in 2024