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More than a year of clashes that recently escalated into war have cost Lebanon more than $5 billion in economic losses, with actual structural damage amounting to billions more, the World Bank said according to AFP.
In its Lebanon report, the World Bank provided estimates for damage between October 8, 2023 and October 27, 2024, saying “the conflict has caused $5.1 billion in economic losses”, with damage to physical structures amounting to “at least $3.4 billion” on top of that.
The losses are “largely concentrated in the commerce and tourism and hospitality sectors … as well as in the agriculture sector”, the report said.
