According to this report, published by the World Bank on Thursday, economic losses in Lebanon amounted to 5 billion dollars. The study covers the period from October 2019, when mass protests began, to June 2020, which includes the period of the crisis caused by the COVID-19 pandemic.
The analysis showed that economic losses represented about 19.2% of Lebanon's GDP. This was due to a decrease in activity in the services sector, particularly in tourism and retail. A significant decline in private investment volumes, both domestic and foreign, was also noted.
In his commentary on the report, the World Bank representative emphasized that the recovery of the Lebanese economy requires coordinated efforts from all stakeholders, as well as the implementation of reforms to create a conducive investment environment.
