Mon. Oct 14th, 2024

“Reuters” reported that the Israeli war on Gaza is worsening the already challenging economic conditions in Jordan, Lebanon, and Egypt. As these countries edge closer to the brink of collapse, Western powers may be compelled to prepare for another refugee crisis.

“Reuters” reported, citing a recent assessment by international development agencies, that Egypt and Lebanon are drowning in debt. As a percentage of their respective Gross Domestic Products (GDP), the debt burdens for both countries have reached 93% and 280%.

“Reuters” explained that the war in Gaza could result in a loss of $10 billion in the GDP of Jordan, Lebanon, and Egypt if it continues for another three months. This figure could rise to $18 billion, or 4% of the GDP, if the conflict persists until the summer.

More than 29,000 Palestinians have been killed in the Israeli war on Gaza, and yet the repercussions of this war extend beyond the battlefields, exacerbating long-term social and economic crises in the region.

Related Post