Caretaker Minister of Economy and Trade Amin Salam stated on Monday that Lebanon was significantly impacted by the repercussions of the war in Gaza, with the agricultural and tourism sectors bearing the brunt of this impact.
In an interview with Sky News Arabia, Salam explained that the agricultural sector suffered substantial damage, asserting that the harm to agricultural land and products is estimated at around $2.5 billion, as per a preliminary study. This discussion occurred on the sidelines of the World Trade Organization's (WTO) Thirteenth Ministerial Conference (MC13), taking place in Abu Dhabi from February 26 to 29, 2024.
“Thousands of tons of agricultural products have been destroyed. Vast areas of farmland, including olive groves, have been damaged,” knowing that olive tree byproducts are “what Lebanon produces and exports most,” he stated.
Salam emphasized that “the extension of the Gaza war to Lebanon’s borders has disrupted the entire economic movement in southern Lebanon.” He estimated the damages to be worth roughly between 7 and 10 billion USD.
“This money could have entered the economic process in Lebanon between 2023 and early 2024,” he lamented, pointing out that “these losses have created an economic contraction instead of the 2 to 3% growth forecast for 2023.”
In an interview with Sky News Arabia, Salam explained that the agricultural sector suffered substantial damage, asserting that the harm to agricultural land and products is estimated at around $2.5 billion, as per a preliminary study. This discussion occurred on the sidelines of the World Trade Organization's (WTO) Thirteenth Ministerial Conference (MC13), taking place in Abu Dhabi from February 26 to 29, 2024.
“Thousands of tons of agricultural products have been destroyed. Vast areas of farmland, including olive groves, have been damaged,” knowing that olive tree byproducts are “what Lebanon produces and exports most,” he stated.
Salam emphasized that “the extension of the Gaza war to Lebanon’s borders has disrupted the entire economic movement in southern Lebanon.” He estimated the damages to be worth roughly between 7 and 10 billion USD.
“This money could have entered the economic process in Lebanon between 2023 and early 2024,” he lamented, pointing out that “these losses have created an economic contraction instead of the 2 to 3% growth forecast for 2023.”
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