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.