Al-Bissat warns $11B damage needs reforms

Economy and Trade Minister Amer Besaṭ emphasized that Lebanon's economic recovery depends on security stability and political reforms that restore the state's sovereignty. He estimated damages at around $11 billion, affecting various facilities and assets, with displacement costs approaching $100 million per month. He explained that the economy faces a major challenge in balancing requirements and capabilities and needs either tighter expenditure controls or new external resources. He also pointed out that improving soldiers' salaries requires corresponding revenues and warned against impacting monetary stability. Regarding the banking sector, he stressed the need to implement reforms and restructure the sector to recover deposits, as well as achieving rapid progress in addressing the banking crisis to ensure Lebanon's economic recovery.

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