Lebanon Businessnews News

Gaza war adds 26,000
to the poor in Lebanon
Effect on schools, infrastructure, and tourism
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The increase in the number of the poor in Lebanon under the impact of the Gaza war is estimated to reach 14,000 people if the fighting continues until the end of its third month, according to a joint report by the United Nations Development Programme (UNDP) and the United Nations Economic and Social Commission for Western Asia (ESCWA).

Under a six-month scenario of the war, which has already entered its third month, the increase would be 26,000 poor people.

“The spillover effects on immediate neighbors of the State of Palestine, namely, Egypt, Jordan and Lebanon, could be significant,” UNDP and ESCWA said in a summary of their report ‘Expected socioeconomic impacts of the Gaza war on neighboring countries in the Arab region.’

The combined GDP loss of the three countries is expected to reach $10.3 billion under a three-month scenario and $18 billion under a six-month scenario. GDP loss arising from a reduction in tourism receipts of 10-70 percent would range between three and 30 percent in Lebanon.

“[In Lebanon], schools have closed, public infrastructure has been damaged and tourism has plummeted. These already dire socioeconomic conditions are expected to worsen including a continuing decline in GDP, uncontrollable inflation, high unemployment and poverty, and millions in need of assistance,” UNDP and ESCWA said.
Date Posted: Dec 20, 2023
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