Trending Now - Conflict Deepens Lebanon's Economic Struggles and Unemployment
WHO:
ABC News - Ayman al-Zain, a store owner in Chiyah, Lebanon.
ABC News - Amer Bisat, Economy Minister of Lebanon.
ABC News - Mohamad Faour, professor of finance at the American University of Beirut.
ABC News - Ahmad al-Farra, vendor in a produce market in Sabra, south of Beirut.
ABC News - Riad Aboulteif, owner of several restaurants and bars in Beirut.
WHAT:
ABC News - The latest war between Israel and Hamas has worsened Lebanon's economic crisis, leading to job losses and price gouging.
ABC News - The Lebanese economy is estimated to face a loss of around 7% of its gross domestic product due to the war.
ABC News - 1.2 million Lebanese have been displaced due to the conflict.
ABC News - The Lebanese pound has lost over 90% of its value against the U.S. dollar.
ABC News - Riad Aboulteif reported a 90% drop in revenue since the war began.
WHERE:
ABC News - Chiyah, Lebanon, where Ayman al-Zain's store was destroyed.
ABC News - Beirut’s southern suburbs, where many businesses have been affected.
ABC News - Sabra, south of Beirut, where Ahmad al-Farra operates a produce market.
WHEN:
ABC News - The war between Israel and Hezbollah is ongoing, with a nominal truce in place.
ABC News - The war between Israel and Hamas began on February 28, 2024.
WHY:
ABC News - The economic crisis in Lebanon has been exacerbated by the war, compounded by existing issues of corruption, waste, and mismanagement.
ABC News - The closure of the Strait of Hormuz has contributed to economic shock waves across the Mideast.
HOW:
ABC News - The Lebanese government has conducted over 4,000 inspections of private generators, gas stations, and shops since the start of the war.
ABC News - Many Lebanese families rely on diesel generators for electricity due to the state electricity company's limited service.
(UPDATED May 15, 2026 13:29 UTC)
The ongoing war between Israel and Hamas has significantly worsened Lebanon's economic crisis, resulting in job losses and rampant price gouging, with the Lebanese economy projected to lose around 7% of its gross domestic product. Ayman al-Zain, a store owner in Chiyah, reported that his business was destroyed, while Riad Aboulteif, who owns several restaurants and bars in Beirut, has seen a staggering 90% drop in revenue since the conflict began. With 1.2 million Lebanese displaced and the pound losing over 90% of its value against the U.S. dollar, the situation has been exacerbated by existing issues of corruption and mismanagement, alongside the closure of the Strait of Hormuz impacting the entire region.