Lebanon’s war-torn economy is facing a crisis of unprecedented proportions. Weeks after Israel’s invasion, many Lebanese are struggling to rebuild their lives.
Hasan Raad, a 28-year-old content creator from Beirut, lost his job and home due to the conflict. “We came out of this war with nothing,” he said. His family has called the neighborhood where they live for generations, but Israeli strikes destroyed a home belonging to his family in southern Lebanon.
The war has disrupted around 50,000 registered businesses, causing economic losses estimated at $1.7 billion over the past year. Many Lebanese are struggling to find work and attract customers to their businesses.
“This is still a big mess,” Raad said. He hopes that the government will provide support for reconstruction efforts, but it’s unclear when the money will arrive.
The World Bank estimates that Lebanon’s commerce sector has lost billions of dollars due to the conflict. The bank’s economist, Hani Tawk, says that a new government must earn confidence from donor countries in order to secure funding and stimulate economic growth.
Lebanese are known for their resilience in the face of adversity, but many are worried about the long-term impact of the war on the country’s economy. “We are trying to distribute hope and love with these hot meals,” said Tawk, who founded a charity that provides food to those affected by the conflict.
As the Lebanese struggle to rebuild, it remains to be seen how their economy will recover from this devastating blow.
Source: https://www.nytimes.com/2024/12/30/world/middleeast/lebanon-economy-hezbollah-israel-war.html