Description
This report is based on information valid at the time of its finalization in April 2020. Since then, many economic and social developments have taken place in the country. On 4 August 2020, a devastating explosion occurred in the Beirut Port, leaving some 200 people dead and over 6 000 people injured. The blast destroyed parts of the port including the bulk terminal and main grain silo, ruined neighbourhoods in the vicinity and caused material damages in the greater Beirut area. The explosion added another dimension to a multi-faceted crisis Lebanon had already been facing, as the COVID-19 pandemic has exacerbated the deterioration of economic conditions, with unemployment and poverty increasing and inflation rates skyrocketing. In July 2020 (last information available), consumer prices increased by over 112 percent compared to July 2019, while the food price inflation reached over 330 percent year on year. Nevertheless, the current report contains a valid description of the sector that can still be useful to inform policy decisions and provide background information on the agricultural sector in Lebanon.
