Lebanon Faces Economic Devastation Amid Escalating Israeli Aggression
The Lebanese Economy Minister Amin Salam has reported that the ongoing conflict with Israel has resulted in unprecedented economic losses for the country. These losses, both direct and indirect, are affecting critical sectors such as agriculture and tourism, which are vital to Lebanon's economy. The direct damages include severe destruction in southern Lebanon and Beirut, with agricultural losses alone estimated to exceed $6 billion. Additionally, the tourism sector, which previously generated $5 to $7 billion annually, has seen a staggering 90% loss due to the conflict. The situation is further complicated by a displacement crisis, with 1.2 million people displaced in just one week, adding to the existing burden of 1.5 million Syrian refugees. The Lebanese government is struggling to provide necessary support, despite receiving Arab assistance.
- The ongoing conflict has heightened tensions in the region, with both military and civilian casualties reported. On October 2, 2024, the Israeli army announced the death of Captain Eitan Itzhak Oster, marking the first Israeli casualty in Lebanon since the recent escalation began. This incident follows a ground offensive by Israeli forces against Hezbollah, which has intensified fighting in southern Lebanon. Hezbollah has confirmed its engagement with Israeli troops, claiming to have repelled incursions into Lebanese territory. The Lebanese army has also reported brief incursions by Israeli forces, indicating a significant escalation of military operations along the border.
