Lebanese Economy on the Brink of Collapse.. Due to Hezbollah's Hostile Actions

Lebanese Economy on the Brink of Collapse.. Due to Hezbollah's Hostile Actions
Hezbollah's escalation of attacks against Israel reflects its continued aggressive approach that threatens the stability of the entire region, ignoring the suffering of the Lebanese people who are pay
September 25, 2024, 12:52 am

العملة اللبنانية \ تعبيرية \ متداولة

The intensity of military confrontations between Israel and the Iranian-backed Lebanese Hezbollah has escalated, raising international fears of a full-scale war in the region. Israeli raids on southern Lebanon have resulted in hundreds of casualties, while Hezbollah continues to launch a barrage of rockets at civilian areas in northern Israel.

According to reports from political study institutes, Hezbollah possesses a huge missile arsenal estimated at about 150,000 rockets, most of them directed towards Israel.

For their part, human rights organizations say that Hezbollah has committed serious human rights violations, including using civilians as human shields and planting military sites in residential areas, endangering Lebanese civilians.

Economic experts have warned that the continuation of the conflict will have dire consequences for the already struggling Lebanese economy. Nassib Ghobril, head of the economic research department at Byblos Bank in Beirut, said: "Based on Israeli threats to destroy large parts of infrastructure in Lebanon and punish the Lebanese state, I expect a contraction between 10 and 15% this year."

Observers see Hezbollah's reckless actions as exposing Lebanon to the risk of losing opportunities for economic reform and recovery from its severe financial crisis. A World Bank report indicated that Lebanon is suffering from one of the worst global financial crises since the mid-19th century, with the banking sector facing losses exceeding $70 billion, and the national currency losing more than 90% of its value since 2019.

Under these circumstances, it appears that Hezbollah is placing its interests and the agenda of its supporters in Iran above the interest of the Lebanese people. Hezbollah's policies have led to Lebanon's regional and international isolation, depriving it of opportunities for economic support and foreign investments necessary to revive its economy.

At the same time, Iran continues to play a destabilizing role in the region through its ongoing support for Hezbollah and other armed groups. Reports have indicated that Iran uses these groups as tools to expand its regional influence and threaten the security of its neighbors.

Analysts believe that the continuation of the current conflict may lead to tightening sanctions on Iran, which will increase pressure on its struggling economy. The International Monetary Fund has warned that Iranian economic growth may slow to 3.3% this year and 3.1% in 2025, with continued high inflation that reached 45.8% last year.

In light of these developments, it appears that Hezbollah and Iran are continuing their policies that threaten the stability of the region and undermine opportunities for peace and development, ignoring the suffering they cause to the people in Lebanon and the region as a whole.

Levant - Agencies

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