Lebanon’s economic situation deteriorates after drop in GDP ...| MENAFN.COM

Thursday, 07 July 2022 07:24 GMT

Lebanon’s economic situation deteriorates after drop in GDP


(MENAFN) Based on the World Bank, Lebanon’s economic catastrophe, arranged by the country’s upper-class, is amongst the worst economic downfalls since the 1850s and is tearing apart the solid structures of its after-war economy.

According to the Washington-based lender statement in its most recent Lebanon Economic Monitor published on Tuesday, the nation’s real gross domestic product is predicted to have dropped by 10.5 per cent in last year, because of a 21.4 per cent drop in 2020.

Lebanon’s GDP decreased by 58.1 per cent to USD21.8bn during last year, from around USD52 billion in 2019 to USD21.8bn in 2021, the largest reduction amongst a list of 193 nations.

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