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"Lebanon’s GDP plummeted from close to US$ 55 billion in 2018 to an estimated US$ 33 billion in 2020. GDP per capita fell by around 40 percent in dollar terms.

"Lebanon’s GDP plummeted from close to US$ 55 billion in 2018 to an estimated US$ 33 billion in 2020. GDP per capita fell by around 40 percent in dollar terms. "

rsj_hn 5y ago
Wow, that is a Great Depression.
8note 5y ago
Per wiki, the Beirut explosion in 2020 also did some 13 Billion USD in damage, too
sharken 5y ago
Comparing Lebanon to the poorest country in Europe, Moldova, show at least one interesting fact besides the GDP drop. The defence expenditure is more than US$ 2 billion higher per year in Lebanon while it is nearly non-existent in Moldova. It seems absurd to uphold that kind of expenditure, but it's likely a direct consequence of the historical conflict in the region. Source: https://countryeconomy.com/countries/compare/lebanon/moldova https://countryeconomy.com/countries/compare/lebanon/moldova
- wumpus 5y ago
  Moldova has a "frozen conflict" where Russia is holding a fair fraction of their territory hostage. It's less bad than Ukraine, but still a problem.
  - sharken 5y ago
    Thanks for pointing that out, it's not really in the news. So both countries have a long standing conflict in common and sadly neither conflict seems to have any chance of being resolved.
- CapricornNoble 5y ago
  >>>but it's likely a direct consequence of the historical conflict in the region. Yeah, the security situations in the 2 countries are VASTLY different. Lebanon has militant Palestinian refugees[1], Hezbollah, Israel, Syria, Iran, and ISIS-adjacent insurgents [2] all regularly killing each other (or Lebanese government forces) in their territory. [1]https://en.wikipedia.org/wiki/Nahr_al-Bared_refugee_camp#2007_conflict https://en.wikipedia.org/wiki/Nahr_al-Bared_refugee_camp#200... [2]https://www.reuters.com/article/us-mideast-crisis-syria-lebanon-idUSKBN1A90JQ https://www.reuters.com/article/us-mideast-crisis-syria-leba...
- deleted 5y ago
  [deleted]

"Lebanon’s GDP plummeted from close to US$ 55 billion in 2018 to an estimated US$ 33 billion in 2020. GDP per capita fell by around 40 percent in dollar terms. "

rsj_hn 5y ago

Wow, that is a Great Depression.

8note 5y ago

Per wiki, the Beirut explosion in 2020 also did some 13 Billion USD in damage, too

sharken 5y ago

Comparing Lebanon to the poorest country in Europe, Moldova, show at least one interesting fact besides the GDP drop. The defence expenditure is more than US$ 2 billion higher per year in Lebanon while it is nearly non-existent in Moldova. It seems absurd to uphold that kind of expenditure, but it's likely a direct consequence of the historical conflict in the region. Source: https://countryeconomy.com/countries/compare/lebanon/moldova https://countryeconomy.com/countries/compare/lebanon/moldova

wumpus 5y ago
Moldova has a "frozen conflict" where Russia is holding a fair fraction of their territory hostage. It's less bad than Ukraine, but still a problem.
- sharken 5y ago
  Thanks for pointing that out, it's not really in the news. So both countries have a long standing conflict in common and sadly neither conflict seems to have any chance of being resolved.
CapricornNoble 5y ago
>>>but it's likely a direct consequence of the historical conflict in the region. Yeah, the security situations in the 2 countries are VASTLY different. Lebanon has militant Palestinian refugees[1], Hezbollah, Israel, Syria, Iran, and ISIS-adjacent insurgents [2] all regularly killing each other (or Lebanese government forces) in their territory. [1]https://en.wikipedia.org/wiki/Nahr_al-Bared_refugee_camp#2007_conflict https://en.wikipedia.org/wiki/Nahr_al-Bared_refugee_camp#200... [2]https://www.reuters.com/article/us-mideast-crisis-syria-lebanon-idUSKBN1A90JQ https://www.reuters.com/article/us-mideast-crisis-syria-leba...
deleted 5y ago
[deleted]