The ongoing Israeli invasion has led to an estimated loss of between $15 billion and $20 billion across key sectors in Lebanon, according to the Lebanese Minister of Economy and Trade, Amin Salam. In an interview with Anadolu, Salam outlined the severe economic impact of the conflict, which has displaced over 1.4 million people and caused widespread destruction.

Before the escalation in September, Lebanon’s economy had already suffered approximately $10 billion in losses, primarily affecting tourism and agriculture. However, with the intensification of Israeli attacks, nearly 500,000 Lebanese have lost their jobs due to mass displacement, infrastructure damage, and a complete halt in the tourism sector. Salam noted that daily economic losses reached hundreds of millions of dollars, significantly hindering damage assessments.

The Lebanese government is now facing the monumental task of rebuilding. Salam emphasized that $15 billion to $20 billion will be needed to restore infrastructure and revive the country’s economy. In the immediate term, Lebanon requires $3 billion to $5 billion to address urgent needs, such as resettling displaced individuals and kickstarting economic activities.

Despite these challenges, Salam expressed hope that international support would materialize once Lebanon forms a new government. The country has been without a president since October 2022, with political gridlock preventing the election of a successor. Salam also underscored the need for support for the Lebanese Army, which must prioritize executing UN Security Council Resolution 1701, a task that will require significant funding.

The Lebanese Minister commended Turkey for its ongoing assistance, acknowledging the strong bilateral relationship over the past three years. Salam also cautioned that while the ceasefire with Israel remains in place, the situation is fragile, and Lebanon must be cautious to prevent further escalation.