25 Oct 2019 … Economic Crisis Looms as Protests Rage in Lebanon After a monthlong political crisis, Lebanon faces an economic one, too, as the effects of long-term policies crash into citizens’ lives.

The economy of Lebanon is classified as a developing, upper-middle income economy.The nominal GDP was estimated $54.1 billions in 2018 , with a per capita GDP amounting to $12,000. This would incur dire consequences for the most disadvantaged economic groups. 29 Sep 2019 20:22 GMT Mr Diab's position is precarious. Lebanon faces race against time to avoid financial collapse. The Lebanese economy significantly expanded after the war of 2006, with growth averaging 9.1% between 2007 and 2010. In a context of economic slowdown and declining transfers of Lebanese migrants and bank deposits, the state has become over-indebted and lacks liquidity. Hezbollah to speak on Lebanon crisis as economic warning issued As politicians ponder ways out, the clock is ticking because of financial strains on heavily indebted Lebanon. The government has requested a comprehensive financial support package from the IMF. Lebanon is facing a currency crisis in 2019 that is threatening to send the country, which is already on shaky economic ground, into complete bankruptcy.Protests have erupted, but the country’s leaders seem unwilling or unable to react. Government spending amounted to $15.9 billion in 2018, or 23% of GDP.

On March 28th the government announced that it would halt all repayments on its Eurobond debt.

Political and economic turmoil escalates in Lebanon By Jean Shaoul 16 November 2019 Lebanon’s political and economic crisis has intensified as … In 2019, the already worrying economic situation in Lebanon worsened, raising fears of a collapse of the country. Lebanon: Protests over worsening economic crisis Demonstrators march in front of government headquarters and block roads in Beirut, decrying economic crisis. Lebanon's financial situation is deteriorating amid a rising political divide.