Poverty in Lebanon has more than tripled over the past 10 years, reaching 44 percent in 2022. There are stark differences in poverty levels between different areas of the country, with Beirut seeing a decline in poverty while the Akkar region experienced a significant increase.
Lebanese citizens and Syrian refugees in Lebanon are disproportionately affected by poverty, with poverty rates at 33 percent and 87 percent respectively in 2022. When considering multidimensional poverty factors, 73 percent of Lebanese and 100 percent of non-Lebanese residents are classified as poor.
The economic crisis in Lebanon since 2019 has led to a currency collapse, inflation, and plummeting GDP, causing many to lose their life savings. The situation worsened with a 95 percent currency devaluation, leading banks to restrict access to depositors' savings.
Despite the hope for an IMF bailout, limited progress in reform implementations has hindered Lebanon's ability to overcome the crisis, following a preliminary agreement in 2022. The report showcases the urgent need for effective measures to address the escalating financial turmoil in the country.
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