(MENAFN) According to the World Bank Lebanon Economic Monitor on Tuesday, December 1, Lebanon's real GDP growth is estimated to harshly fall to -19.2 percent this year, while the ratio in 2019 is -6.7 percent.
The LEM stated "A contraction of the Lebanese GDP per capita in real terms and high inflation will undoubtedly result in a substantial increase in poverty rates and will affect the population through different channels, such as the loss of productive employment, decline in real purchasing power, and stalled international remittance".
Saroj Kumar Jha, World Bank Mashreq Regional manager, accredited Lebanon's crisis to the lack of political agreement on national priorities which has harshly obstructed Lebanon's ability to realize long-term and visionary growth policies.
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