Customers in a café in Hamra, Beirut, on March 28, 2026. (Credit: Ségolène Ragu/L'Orient-Le Jour)
The cost of the war between Israel and Hezbollah, which reignited in the wake of the regional war involving Washington and Tel Aviv against Tehran, is expected to be extremely heavy for an already struggling Lebanese economy. It could cut the country’s GDP by 12-16%, according to a new report led by Garbis Iradian, chief economist for the MENA region at the Institute of International Finance (IIF). The IIF is an international association of major global financial players."The given range depends on the duration of the conflict," the report’s authors specify, without providing precise scenarios, making this one of the first macroeconomic projections published by an international organization since the war began at the end of February. More from Philippe Inflation exceeds 12% in February, before the war and surge in energy...
The cost of the war between Israel and Hezbollah, which reignited in the wake of the regional war involving Washington and Tel Aviv against Tehran, is expected to be extremely heavy for an already struggling Lebanese economy. It could cut the country’s GDP by 12-16%, according to a new report led by Garbis Iradian, chief economist for the MENA region at the Institute of International Finance (IIF). The IIF is an international association of major global financial players."The given range depends on the duration of the conflict," the report’s authors specify, without providing precise scenarios, making this one of the first macroeconomic projections published by an international organization since the war began at the end of February. More from Philippe Inflation exceeds 12% in February, before the war and surge in...
