UN calls for urgent, coordinated action to launch recovery efforts in Lebanon
In a joint report released today titled "The Socio-Economic Impact of the 2024 War on Lebanon," the UN Development Programme (UNDP) and the Economic and Social Commission for Western Asia (ESCWA), in collaboration with UNICEF, the International Labour Organisation (ILO), and UN-Habitat, revealed that the conflict in Lebanon displaced more than 1.2 million people, damaged or destroyed nearly 64,000 buildings, and interrupted education for hundreds of thousands of students.
The report highlighted that micro, small, and medium-sized enterprises - which make up 90 percent of Lebanon's economy - were among the hardest hit. About 15 percent of these businesses permanently closed, 75 percent suspended operations during the conflict, and nearly 30 percent lost their entire workforce.
In areas most heavily targeted by Israeli airstrikes, 70 percent of businesses were forced into full closure, the report said, noting that the economic toll has been severe, with Lebanon's economy contracting by 38 percent between 2019 and 2024.
The report suggests that comprehensive recovery anchored in structural reforms could reverse the decline, projecting economic growth of 8.2 percent in 2026 and 7.1 percent in 2027. However, even with such reforms, the country's GDP would remain 8.4 percent below its 2017 peak of USD 51.2 billion.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
3 hours ago
- Observer
UK rejects criticism over recognising Palestinian state
LONDON: Britain rejected Israeli criticism on Wednesday that it was rewarding Hamas by setting out plans to recognise a Palestinian state unless Israel took steps to improve the situation in Gaza and bring about peace. Prime Minister Keir Starmer's ultimatum, setting a September deadline, prompted an immediate rebuke from Israel's Benjamin Netanyahu, who said it rewarded Hamas. Starmer's decision follows that of French President Emmanuel Macron, who announced last week that Paris would recognise Palestinian statehood in September, becoming the first major Western power to do so, because of the dire humanitarian conditions in the enclave. The most immediate impact of Britain recognising a Palestinian state may be an upgrading of diplomatic relations, according to one British government official. Britain now hosts a Palestinian mission in London which could be upgraded to an embassy, and Britain could eventually open an embassy in the West Bank, the official said. Starmer's move 'will isolate Israel more and more, but it won't change anything on the ground,' said Azriel Bermant, a senior researcher at the Institute of International Relations Prague. — Reuters
Observer
3 hours ago
- Observer
UAE begins pipeline project to ease Gaza water shortage
Jerusalem: The United Arab Emirates has begun construction on a major pipeline to carry desalinated water from Egypt to southern Gaza, according to multiple sources. Technical teams sent by the UAE have started transporting equipment needed for the project, the Emirati state news agency WAM reported on Wednesday. The nearly seven-kilometre (4.5-mile) pipeline aims to help alleviate what WAM described as a "water crisis" in the Gaza Strip. Earlier this week, COGAT -- the Israeli defence ministry body overseeing civil affairs in the Palestinian territories -- said construction of the pipeline would begin in the coming days and was expected to take weeks. The project would link a desalination plant in Egypt to the Al-Mawasi area along Gaza's coast and could supply about 600,000 people daily, COGAT said. WAM said the UAE had launched "several initiatives to drill and rehabilitate potable water wells". Access to clean drinking water is extremely limited across Gaza, forcing its 2.4 million residents to rely on salty, often undrinkable water or irregular aid deliveries. More than 80 percent of Gaza's water infrastructure has been damaged during the war between Israel and Hamas, according to estimates from the Palestinian Water Authority. After Israeli supply cuts, most Gazans rely on polluted wells or sporadic NGO water deliveries, hindered by limited aid access. "The water crisis in Gaza continues to deteriorate rapidly amid a severe fuel shortage, extensive infrastructure damage, and inaccessible water sources," said the UN Office for the Coordination of Humanitarian Affairs (OCHA). The Deir el-Balah desalination plant in central Gaza resumed full operations at the weekend after being reconnected to the Israeli electricity grid for the first time since spring. Humanitarian organisations have been warning for months of an impending public health catastrophe, particularly in southern Gaza, where hundreds of thousands of displaced people are sheltering. On Tuesday, UN agencies called for a surge in food aid, with United Nations Secretary-General Antonio Guterres saying "the trickle of aid must become an ocean". UN-backed experts warned Tuesday that a "worst-case scenario" famine is "now unfolding" in Gaza that cannot be reversed unless humanitarian groups get immediate and "unimpeded" access.
Observer
8 hours ago
- Observer
Oman welcomes UK intent to recognize Palestinian state
The Ministry of Foreign Affairs (MFA) has welcomed the announcement by Keir Starmer, British Prime Minister, of his country's intention to recognize the State of Palestine during the upcoming United Nations General Assembly. The Sultanate of Oman renewed its call to the rest of the countries of the international community that have not yet recognized the State of Palestine to take similar steps to guarantee the legitimate right of the Palestinian people to establish their independent state on the 1967 borders with East Jerusalem as its capital, in preparation for a two-state solution and sustainable peace in the region.
