The recent war of Israel on earth intensified only the challenges, leaving the Lebanon grabbed for destruction and uncertainty.
In order to understand the current economic landscape, it is essential to look back on key events in the past decade.
Protests of “WhatsApp tax”, 2019
Although protests for 2019. initially encouraged the proposed taxa taxpiece tax, the basic cause was a deep seated rage due to governmental policies, lack of corruption and deep economic inequality.
Public trust in the government has been declining for years, their controversial fiscal policies has launched, and the Central Bank failed “financial engineering” – complex bandages and the issuance of financial instruments in foreign currency and injection into the banking system.
Permanent budget deficit and inflated salaries in the public sector – increased by large mountain salaries in 2018. year – further affected confidence.
The resulting economic difficulties has launched protests from October 2019. and exposed economic frail in the country.
https://www.youtube.com/watch?v=nkevcfqbook
In March 2020. The Government of the Prime Minister Hassan Diab did not fulfill its sovereign debt, just as Pandemium in Covidu 19 hit, interfering with global supply chains and exacerbation of Lebanon vulnerability.
The pandemium further strained the already weakened health system, which led to critical shortcomings of hospital beds and essential medications.
His reliance on tourism and remittances made Lebanon especially sensitive to a global economic decline.
Explosion of Porta Beirut, 2020
In August 2020. one of the most powerful non-nuclear explosions in the history of devastated Beirut.
In addition to the widespread destruction and loss of life, he caused in the capital, the explosion exhibited deep-rooted corruption and negligence that further eroded public confidence in the government.
It is also seriously discouraged by foreign investment, further destabilizes the already insecure situation.
Lebanese pounds entered free 2020. years, undergoing wild inflation and erode the purchasing power of people.
Then, in 2022, Russia attacked Ukraine, depending on the global supply chain and food that hit countries around the world.
In Lebanon, the addition is an intensive economic pressure on households that fought for the basic living standards that the government increasingly struggled to provide the most important services – and short.
Sali Hafiz: ‘Wonder Women’ is looking for your money
As the banking sector fell deeper into the turmoil from the turmoil starting from 2019. in the third quarter of that year, banks began to seriously restrict access to people with their deposits.
Then in September 2022. years, Sali Hafiz took a replica gun and kept Beirut Bank to access your own savings. She immediately became a symbol of suffering for many Lebanonian to pass and began to call her a “miraculous woman.”
These combining crises created the perfect storm, leaving Lebanon on the edge of the collapse.
Many families were forced to sell groomed valuables, while relying on overseas remittances intensified. However, even this lifeline did not bring enough for many.
Despair has encouraged a lebacular rush, including qualified experts, emigrating – exodus “boats” trying dangerous marine trips that become a great symbol of a nation.
In the third quarter of 2019. The Government established a dual exchange rate – the official rate and free market rate – and imposed prices of prices on certain goods, including fuel and medication.
This led to the shortcomings and development of black markets for these goods, starting in 2020. year and escalating to extensive redege and wide public anger until 2021. years.
Thus, by the end of 2022. At the end of the mandate of the President of Michel AOUN and the Depending on the Prime Minister of Mirk, Debt, Pandemium, the Explosion of the Luke, the devaluation of currency and global pricing scans resulted in unprecedented economic and social troubles.
Glimmer hopes rolled over
In 2023. The government stopped printing the lira banknotes, which helped to stabilize the course. The prices of the prices of the previous year, the final deficibration and black markets were raised in parallel.
https://www.youtube.com/watch?v=dzawb6xch0e
However, this hope was short-lived while Hezbollah started the military hiring Israel 8. October after 7. October, 2023, events in Gaza. After a multi-month trading attack across the border, Israel launched a full attack on the ground in September 2024. year, leaving him devastated by the end of the year.
The resulting destruction was huge, estimated by the World Bank to about $ 3.4 billion, while economic losses, including lost productivity and trade disorders, amounted to $ 5.1 billion.
Combined, they represent a staggering 40 percent of Baban’s gross domestic product (GDP).
Conflict further disturbed trade and deterred foreign investment, exacerbating existing challenges – destroyed infrastructure hampered transport and logistics, difficult to influence companies that already barely survive.
Turn off hezbollah
Hezbollah had a big role in Lebanese society for decades, providing financial and social support to their support in Beirutian southern suburb, southern and northern Valley Bekaa.
But his role was significantly degraded to degraded the war, effectively, “excluding” by contributing “contributions from the economic system, which is likely to negatively affect those who relied on his support.
https://www.youtube.com/watch?v=qx0cbprPL0w
While the full macroeconomic effect is not yet clear, this could lead to further social and economic instability, especially that Israel focused his destructive attention in the areas in which hezbollah is a supportive base – the lifers deprived.
Hope to the future
Lebanon has a new government under the President Joseph Aoun and the Prime Minister of Salam, and hopes to rebuild the political will for the implementation of difficult reforms, given that the new government enjoys the reconciliation of popular legitimacy.
Among the potential roads, the new government can explore the bankruptcy reform, increasing the trade and foreign investment and increase its appeal as a business destination.
However, he faces huge challenges that set deep rooted problems that slammed Lebanon at least a decade.
What remains for seeing is whether it will be able to implement economic reforms, maintain political stability and move the complexity of the regional geopolitical landscape.
Ultimately, the success of these efforts will directly affect Lebanese people, especially the most endangered, in the context where the poverty rate increased extremely since 2019. years.
Failure to ship could worsen the daily struggle for decent life, pushing more citizens towards desperate measures, including increased eviction and brain drain, additional eroding of the social fabric nation.
https://www.aljazeera.com/wp-content/uploads/2024/10/Lebanon-1730388591.jpg?resize=1920%2C1440
2025-03-10 11:44:00
