Israel World Bank report: Lebanon suffers billions in losses due to conflict

A World Bank report shows that Lebanon has suffered billions of dollars in economic losses as a result of the ongoing conflict. The destruction of housing and the loss of jobs are particularly serious.

Lebanon is facing considerable economic losses as a result of the ongoing war. According to a report by the World Bank, these losses amount to almost 5.1 billion US dollars, which corresponds to around 4.8 billion euros. Property damage alone amounts to around 3.4 billion US dollars.

The housing sector was particularly affected, with almost 100,000 residential units either completely destroyed or partially damaged. This destruction led to a loss of around 3.2 billion US dollars.

Devastating effects on the labor market

The conflict has also severely affected the labor market. Around 166,000 people have lost their jobs, further exacerbating the economic situation. The war between Israel and the Hezbollah militia, which is supported by Iran, has therefore not only caused material damage, but has also had considerable social and economic consequences for the people of Lebanon.

SDA