14 Hrs
Source:
الشرق اللبنانية
Al-Basats damages near $11B
The Minister of Economy and Trade emphasized that Lebanon's economic recovery requires security stability and political reforms that restore the state's sovereignty. He clarified that the estimated damages amount to around $11 billion, covering homes, infrastructure, and industries, and that the cost of displacement reaches approximately $100 million per month. He pointed out that the main issue with the budget is exceeding demands beyond available resources, with two main options: tightening spending or securing external funds. He also stressed that addressing the banking crisis necessitates a clear roadmap for recovering deposits and implementing reforms related to the banking sector, warning that if the banking crisis continues without resolution, Lebanon will face a significant obstacle to economic recovery.
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