Beirut: The head of the Lebanese Business Association, Bassem Bouab, estimated the direct and indirect losses resulting from the war since 2014 at more than $25 to $26 billion, $12 billion of which is for reconstruction. These losses will increase if the war continues.
According to Yemen News Agency, Bouab told the Lebanese newspaper Al-Diyar on Sunday, "We are losing about $30 million daily in indirect losses related to the Lebanese economy, in addition to the direct losses affecting homes, businesses, and infrastructure."
He added, "The expatriate community, which is considered the lifeblood of Lebanon, is paralyzed. If there is no influx of remittances from abroad, this will be a catastrophe for Lebanon."
Bouab recalled the role played by expatriates during the COVID-19 pandemic and the Beirut port explosion, saying, "The expatriates helped Lebanon during the COVID-19 pandemic and the Beirut port explosion, and even during the war between Ukraine and Russia, which led to a dramatic rise in prices in Lebanon."
The doorman said that Lebanon "has no option left but aid from other countries, the International Monetary Fund, and the World Bank."
He continued, "We need approximately $25 billion to be able to revive our country," and expressed his regret that "this war has seen the lowest level of aid coming to Lebanon compared to all previous wars, amounting to no more than 15% of what it was before."