Lebanon: Lebanese Prime Minister Nawaf Salam said the cost of the two most recent Israeli wars on Lebanon had exceeded USD 20 billion and could reach USD 27 billion by the end of 2026.
According to Qatar News Agency, Salam spoke during an address to the parliament during a general debate, stating that the World Bank had estimated the cost of the first war, which began on Oct. 8, 2023, at around USD 14 billion. This figure includes approximately USD 7.2 billion in physical damage and around USD 6.8 billion in economic losses. Meanwhile, the direct cost of the latest war, which began on Mar. 2, was estimated at between USD 3 billion and USD 4 billion, with additional economic losses currently estimated at least at USD 4 billion to USD 5 billion.
He added that the human toll had reached around 9,000 deaths and more than 30,000 injuries, while residents of more than 75 villages and towns remained unable to return to their homes. Salam also noted that more than 250,000 Lebanese remained displaced and that the latest war had completely or partially destroyed 91,000 housing units, in addition to around 230,000 units damaged during the previous war.
Salam highlighted the economic impact, noting that the Lebanese economy had shifted from growth of 4.2 percent last year to an estimated contraction of 6.4 percent this year. This downturn is attributed to accelerating inflation following the rise in global oil prices due to the war in the region, a decline in remittances from Lebanese expatriates, and a halt in tourism activity.
Finally, Salam emphasized that the scale of the destruction far exceeded the state's ability to manage the burden alone with its current resources, calling for Arab and international support as well as substantial external financing. He affirmed that sustainable stability could only be achieved by extending the state's authority over its entire territory through its own forces alone, ensuring that decisions of war and peace remained exclusively in the hands of the state.