Reported 5 months ago
The World Bank reported that poverty in Lebanon has tripled over the past decade, with the percentage of people living below the poverty line increasing from 12% in 2012 to 44% in 2022. The data, based on surveys conducted in five out of eight governorates, highlighted stark differences in poverty levels across regions and between Lebanese citizens and Syrian refugees. Despite some progress on monetary and fiscal reforms, the IMF delegation visiting Beirut found that more comprehensive changes are needed to address the country's deep economic crisis, including restructuring the banking sector to prevent the growth of the cash and informal economy, which raises concerns about money laundering.
Source: YAHOO