Lebanon’s economy has been getting weaker since the financial crisis of October 2019. The rate of poverty rose from 25% in 2019, to 74% in 2021.
This has mainly been the result of the depreciation of the Lebanese pound and of the incremental lifting of subsidies, especially on oil derivatives, since June 2021.
The roots of the current crisis in Lebanon are, however, to be found in the country’s political economy and the way it has developed since the end of the Lebanese Civil War, suggests this paper.
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