Lebanon War Losses Exceed $26 Billion Since 2024, Business Leader Warns
In remarks published Sunday by the Lebanese newspaper Ad-Diyar, Al-Bawab said that nearly $12 billion of the losses are needed for reconstruction efforts, warning that the figure will continue to rise if the conflict persists.
ERBIL (Kurdistan24) – Bassem Al-Bawab, president of the Lebanese Businesses Association, announced that the direct and indirect losses caused by the ongoing war since 2024 have surpassed an estimated $25 to $26 billion.
In remarks published Sunday by the Lebanese newspaper Ad-Diyar, Al-Bawab said that nearly $12 billion of the losses are needed for reconstruction efforts, warning that the figure will continue to rise if the conflict persists.
“We are losing approximately $30 million daily in indirect losses related to the Lebanese economy, in addition to the direct losses affecting homes, institutions, and infrastructure,” he stated.
Al-Bawab stressed that Lebanese expatriates, whom he described as “the main lifeline of Lebanon,” are currently unable to provide adequate financial support. He warned that the absence of foreign financial inflows could lead to “a catastrophe for Lebanon.”
He recalled the significant role expatriates played in supporting the country during the COVID-19 pandemic, the Beirut port explosion, and the economic fallout from the Russia-Ukraine war, which drove up prices across Lebanon.
“We now have no option except to seek assistance from other countries, the International Monetary Fund, and the World Bank,” Al-Bawab said, adding that Lebanon requires around $25 billion to rebuild and revive its economy.
He also lamented that the current war has received the lowest level of international aid compared to previous conflicts, noting that assistance so far amounts to only 15 percent of earlier support levels.
According to Al-Bawab, Lebanon received considerable aid during the 2024 war from Egypt, Jordan, Qatar, Kuwait, Türkiye, and several European countries, particularly France.