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  • Lebanon Opportunities

    GDP will shrink by more than 20 percent

    Nov 30, 2020 4 minutes

    The country continues to reel under its multiple crises. The huge explosion at the Port of Beirut, the latest addition to the country’s woes, is expected to worsen further the deep recession. Inflation is skyrocketing while public revenues are plunging.

    Port’s blast to worsen GDP contraction

    The Economist Intelligence Unit (EIU) said: “We expect the economy to contract as private consumption plunges.” According to the World Bank’s ‘Beirut Rapid Damage and Needs Assessment’ report, the blast is estimated to cause up to 0.4 percentage point in 2020 and 0.6 percentage point in 2021 declines in the real GDP growth rate, due to

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