2024 Lebanon economy could contract by 9.2% with continued hostilities, according to UNDP.

The UN Development Programme (UNDP) warns that Lebanon's economy could contract by 9.2% in 2024 if hostilities continue, worsening a five-year crisis. Even with a ceasefire, declines of 2.3% in 2025 and 2.4% in 2026 are expected without significant international aid. Unemployment may rise to 32.6% by year-end. The report calls for urgent humanitarian and development assistance to stabilize Lebanon's economy and society.

October 23, 2024
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