The United Nations has warned that the conflict in Lebanon could exacerbate the country's economy, which has been battered by years of crisis, and predicted a 9.2 percent drop in GDP in 2024 if the fighting continues.
Ratings agency Standard & Poor's warned that the escalating conflict between Israel and Hezbollah had severely weakened the prospects for Lebanon's already fragile economy to recover.
The agency predicted that the military escalation between Israel and Hezbollah will continue until next year, which will lead to severe losses in Lebanon's economy, especially with the increase in displacement and the decline in tourism revenues.
According to S&P, military escalation will further delay economic and fiscal reforms, and the chances of a long-term recovery of fiscal and external accounts.
