Economy of Lebanon

Common card · No. 332964

The economy of Lebanon has been experiencing a large-scale multi-dimensional crisis since 2019, including a banking collapse, the Lebanese liquidity crisis and a sovereign default. It is classified as a developing, lower-middle income mixed economy. The nominal GDP was estimated at $26 billion in 2024, with a per capita GDP amounting to $4,473. The Lebanese economy went through a significant expansion after the 34-day war of 2006, with growth averaging 9.1% between 2007 and 2010. After 2011 the local economy was affected by the Syrian civil war, growing by a yearly average of 1.7% on the 2011–2016 period and by 1.5% in 2017. In 2018, the size of the GDP was estimated to be $54.1 billion. Between 2019 and 2021, the economy shrank by 53.4%, the highest contraction in a list of 193 countries. Since 2020, the International Monetary Fund no longer publishes data on the Lebanese economy. Lebanon is the third-highest indebted country in the world in terms of debt-to-GDP ratio. As a consequence...

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