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Lebanon poverty triples to 44 percent amid ongoing crisis, World Bank report reveals

24-05-2024 | 07:35

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Lebanon poverty triples to 44 percent amid ongoing crisis, World Bank report reveals

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A recent World Bank report unveils alarming statistics on poverty in Lebanon, indicating a drastic increase over the past decade.

Covering regions including Akkar, Beirut, Bekaa, North Lebanon, and Mount Lebanon, the report exposes that one in every three individuals in these areas faces poverty, highlighting an urgent need for bolstering social safety nets and job creation to combat widening inequality.

Key findings underscore a stark rise in monetary poverty from 12 percent in 2012 to a staggering 44 percent in 2022 across surveyed regions, with disparities evident across the country.

Particularly alarming is the situation in Akkar, where poverty rates soar to 70 percent, predominantly affecting those employed in agriculture and construction sectors.

“Lebanon’s ongoing crisis raises the urgency to better track the evolving nature of households’ well-being in order to develop and adopt the appropriate policies” Jean-Christophe Carret, the World Bank Middle East Country Director, stated.

In response, the report calls for urgent policy interventions, emphasizing the need to enhance social assistance programs, improve targeting mechanisms for the poor, and expand coverage for essential resources like food, healthcare, and education.

Additionally, investing in human capital, facilitating access to affordable public transportation, and fostering entrepreneurship are highlighted as key strategies to build household resilience amidst the crisis.

As Lebanon grapples with the ramifications of prolonged economic turmoil, the report serves as a clarion call for concerted efforts to alleviate poverty and mitigate its far-reaching consequences.

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Poverty

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