Why it matters:
Rebuilding Lebanon is one of the most important challenges facing the country after the war with Israel. The serious damage to the country's infrastructure, when the Lebanese government is in severe financial difficulties, has made its reconstruction dependent on assistance from other countries or international financial organizations.
The big picture:
A ceasefire that entered into force in November 2024 halted the 15-month war that caused heavy destruction in Lebanon, particularly in the south of the country.
The World Bank report put the war’s total economic cost at $14bn, including $6.8bn in damage to physical structures and $7.2bn in financial losses from reduced productivity, forgone revenues, and operating costs.
The Lebanese housing sector was the hardest hit, with losses estimated at $4.6bn, while the tourism sector lost $3.6bn.
What they're saying:
“By the end of 2024, Lebanon’s cumulative GDP decline since 2019 approached 40 percent, compounding the effects of the multipronged economic downturn and impacting Lebanon’s prospects for economic growth,” the report said.
Go deeper:
FM : Iran is ready to build power plant in Lebanon
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Hossein Amiri
