The World Bank warned Lebanon from drowning in an economic collapse makes it within the worst global crises since the mid-19th century, as a result of the absence of solutions from this crisis and this political paralysis.


According to Arab Net, the World Bank expects a new report to shrink for real GDP in Lebanon, which suffers from a sharp and choir, 9.5% in 2021.


The report said that this economic and financial crisis is likely to be classified as a tenth of the tenth crisis, and one of the three crises, has been seen in the world since the mid-19th century.


In the face of these enormous challenges, the continued failure to implement policy-making, in the absence of an executive authority, has threatened its full functions, original and fragile social and social conditions; It does not loom any clear turning point.


Since the summer of 2019, Lebanon has a rapid economic collapse in Beirut horrific explosion on August 4 and the Corona virus.


The State is behind March 2020 on its external debt and then negotiations with the International Monetary Fund (IMF) have begun on a plan to be suspended later because of differences between Lebanese negotiators.


The Lebanese pound exchange rate gradually fell to more than 85% of its value, and more than half of the population was lost under the poverty line. The unemployment rate rose, while the international community requires authorities to implement urgent reforms to get a necessary financial support from the spiral of collapse .


The World Bank report entitled Lebanon drowns: towards the worst 3 global crises, that the response of the Lebanese authorities for these policy challenges was largely insufficient and returned to several major causes of political consensus on effective policy initiatives in exchange for consensus Political on the protection of a busty economic system, few numbers were reported.


In 2020, real GDP shrank by 20.3%, after contraction of 6.7% in 2019.


The value of GDP, according to the report, from about $ 55 billion in 2018, has declined at an estimated $ 33 billion in 2020.