He added, in an exclusive interview on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Washington, that all sectors of the Lebanese economy were “completely destroyed,” and that the cost of reconstruction if the war stopped today would range between 20 and 30 billion dollars.
A report by the United Nations Development Program stated yesterday, Wednesday, that the war is expected to engulf… Israel The Hezbollah group represents nine percent of Lebanon’s gross domestic product, and the scale of hostilities and the economic repercussions of the war should exceed what happened in 2006.
The program said it expects the conflict to continue until the end of 2024, leading to a 30 percent increase in the government’s financing needs in a country that was already reeling before the conflict began.
In his statements to Sky News Arabia, the Minister of Economy of the Lebanese caretaker government estimated that the Lebanese GDP has so far lost between 8 and 12 percent of its value, adding that unemployment in the country has risen to 20 percent in one month.
He was Lebanon It is already suffering from a four-year economic recession and a political crisis when Hezbollah began firing rockets into Israel last year in support of its ally, Hamas.
Israel intensified its bombing of Lebanon in late September, and attacks now regularly strike the southern suburbs of Beirut, major cities in southern Lebanon, and areas in the Bekaa Valley to the east, including the border with Syria.
It was the last fight between… Hezbollah And Israel in 2006. It lasted for a month and turned many areas of southern Lebanon and the southern suburbs of Beirut into rubble, which required international assistance for reconstruction.
At an international conference held by France today in Paris, Lebanon received pledges worth up to one billion dollars, including $800 million in humanitarian aid and an additional $200 million for the Lebanese army.
Lebanon says it needs $250 million a month to address the crisis that has led to the displacement of between 500,000 and one million people from southern Lebanon since Israel launched a large-scale attack on the Iranian-backed Hezbollah group in September.
In his statements to Sky News Arabia, the minister expected that announced US aid worth $157 million would reach Lebanon within a week.
