World Bank warns of ‘prolonged depression’ in Lebanon ...Egypt

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BEIRUT (AP) — Lebanon’s economy faces an “arduous and prolonged depression,” with real GPD projected to plunge by nearly 20 percent because its politicians refuse to implement reforms that would speed up the country’s recovery, the World Bank said Tuesday. It said Lebanon should quickly form a reform-minded government to urgently carry out the reforms. The crash of the local currency has already led to triple-digit inflation. The dire projections by the World Bank, including a 19.2 percent drop in gross domestic product this year alone, come as Lebanon suffers its worst economic and financial crisis in its modern history, posing a threat to the country’s stability. The crisis began a year a

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Last updated : 01 Dec 2020 clock 05:16 PM

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World Bank warns of ‘prolonged depression’ in Lebanon ...Egypt

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