Syria crisis to cost Lebanon $7.5 billion | Syria crisis to cost Lebanon $7.5 billion -

Syria crisis to cost Lebanon $7.5 billion

Lebanon: Sunday, September 22 - 2013 @ 00:00

Reuters obtained a summer of the report, which was prepared for an aid meeting at the United Nations to brief diplomats in Beirut. It is said to be the most comprehensive assessment of the toll of the Syrian conflict on Lebanon.

The document estimates the waves of refugees will be cutting GDP growth by 2.85 per cent each year until 2014. This will double unemployment to more than 20 per cent and extend Lebanon’s debt deficit by $2.6 billion.

The war has already spilled into Lebanon. Car bombs have been detonated in Beirut and the northern city of Tripoli, which punctuated further violence on the street and rocket fire within the Bekaa Valley. Tourism and trade have plummeted, unaided by political instability.

An international support group is expected to be convened by UN Secretary General Ban Ki-moon, according to the new agency. The move would likely take place at next week’s annual summit, designed to provide humanitarian aid and assistance to the Mediterranean nation.

Almost one million Syrians have fled across the border, placing burdens on the health and education sectors and places increasing strain on power supply – in a country already struggling with demand.

The UN has recorded 748,000 refugees awaiting registration in Lebanon but the World Bank estimates 914,000 – this figure does not include the tens of thousands of Syrians in the nation before the crisis began in March 2011.

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Sunday, September 22- 2013 @ 0:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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