Lebanon economic losses top $5 billion in year of clashes: World Bank

Beirut: More than a year of clashes that recently escalated into war have cost Lebanon more than $5 billion in economic losses, with actual structural...

Beirut: More than a year of clashes that recently escalated into war have cost Lebanon more than $5 billion in economic losses, with actual structural damage amounting to billions more, the World Bank said on Thursday.

Since September 23, Israel has ramped up its air campaign in Lebanon, later sending in ground troops following almost a year of limited, cross-border exchanges initiated by Hezbollah over the Gaza war.

Lebanon's health ministry said at least three people were killed on Thursday in an Israeli strike on the main eastern city of Baalbek.

Intensified strikes blamed on Israel have also hit Hezbollah ally Syria, where the defence ministry said 15 people were killed on Thursday.

In its Lebanon report, the World Bank provided estimates for damage between October 8, 2023 and October 27, 2024, saying "the conflict has caused $5.1 billion in economic losses", with damage to physical structures amounting to "at least $3.4 billion" on top of that.