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The ongoing war in Lebanon is expected to shrink the country’s economy by at least 7 per cent this year and could cost the country an estimated $20 billion, according to Al Jazeera.
Finance Minister Yassine Jaber tells Reuters he expects the current war to prompt an economic contraction of between 7pc and 10pc in 2026.
Jaber says the government had hoped for a budget surplus this year, but instead allocated $50 million in public funds to support more than one million people displaced by the war.
