Lebanese Economy on the Brink of Collapse.. Due to Hezbollah's Hostile Actions
Hezbollah's escalation of attacks against Israel reflects its continued aggressive approach that threatens the stability of the entire region, ignoring the suffering of the Lebanese people who are pay
September 25, 2024, 12:52 am

Lebanese Economy on the Brink of Collapse.. Due to Hezbollah's Hostile Actions

العملة اللبنانية \ تعبيرية \ متداولة

The intensity of military confrontations between Israel and the Iranian-backed Lebanese Hezbollah has escalated, raising international fears of a full-scale war in the region. Israeli raids on southern Lebanon have resulted in hundreds of casualties, while Hezbollah continues to launch a barrage of rockets at civilian areas in northern Israel.

According to reports from political study institutes, Hezbollah possesses a huge missile arsenal estimated at about 150,000 rockets, most of them directed towards Israel.

For their part, human rights organizations say that Hezbollah has committed serious human rights violations, including using civilians as human shields and planting military sites in residential areas, endangering Lebanese civilians.

Economic experts have warned that the continuation of the conflict will have dire consequences for the already struggling Lebanese economy. Nassib Ghobril, head of the economic research department at Byblos Bank in Beirut, said: "Based on Israeli threats to destroy large parts of infrastructure in Lebanon and punish the Lebanese state, I expect a contraction between 10 and 15% this year."

Observers see Hezbollah's reckless actions as exposing Lebanon to the risk of losing opportunities for economic reform and recovery from its severe financial crisis. A World Bank report indicated that Lebanon is suffering from one of the worst global financial crises since the mid-19th century, with the banking sector facing losses exceeding $70 billion, and the national currency losing more than 90% of its value since 2019.

Under these circumstances, it appears that Hezbollah is placing its interests and the agenda of its supporters in Iran above the interest of the Lebanese people. Hezbollah's policies have led to Lebanon's regional and international isolation, depriving it of opportunities for economic support and foreign investments necessary to revive its economy.

At the same time, Iran continues to play a destabilizing role in the region through its ongoing support for Hezbollah and other armed groups. Reports have indicated that Iran uses these groups as tools to expand its regional influence and threaten the security of its neighbors.

Analysts believe that the continuation of the current conflict may lead to tightening sanctions on Iran, which will increase pressure on its struggling economy. The International Monetary Fund has warned that Iranian economic growth may slow to 3.3% this year and 3.1% in 2025, with continued high inflation that reached 45.8% last year.

In light of these developments, it appears that Hezbollah and Iran are continuing their policies that threaten the stability of the region and undermine opportunities for peace and development, ignoring the suffering they cause to the people in Lebanon and the region as a whole.

Levant - Agencies

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”