Lebanon’s economic losses from the ongoing war have reached staggering levels, amounting to approximately $18 billion, according to Lebanese economic expert Elie Yachoui.
He attributed the enormous financial toll to Israel’s deliberate strategy of widespread destruction, as reported by the “Sawt Beirut International” news outlet.
Yachoui detailed that the losses are spread across various sectors: $1 billion in agriculture, particularly affecting the Bekaa Valley and southern regions; $1 billion in the industrial sector; $3 billion in trade; $4 billion in real estate and infrastructure; and an additional $8 billion in the services sector.
The ongoing conflict has also severely impacted Lebanon’s economy, leading to a negative growth rate in its gross domestic product (GDP) for 2024 thus far.
The country’s economic vulnerability, Yachoui noted, stems from a lack of financial support from Arab nations both before and after the war. He attributed this to Lebanon’s alignment with certain foreign policies, which has isolated it from potential aid.
Yachoui further emphasized that the consequences of this war will extend beyond Lebanon. He warned that the devastation is not limited to Lebanon and Gaza, but will also affect the broader Middle East, including Israel itself.
As the war continues, Lebanon faces a grim economic future, struggling under the weight of extensive damage to its infrastructure and key industries, while regional stability remains fragile.
