The Macro- and Socioeconomic Impact of the Syrian Crisis on Lebanon
Charafeddine, Raed H.
Because the blazing Syrian territories are the longest and only accessible borders to Lebanon, the Syrian crisis has had a direct and significant impact on Lebanon’s macro- and socioeconomic conditions. It has undermined vital economic sectors, weakened economic growth, and positioned Lebanon as the country with the highest per capita concentration of refugees in the world. The crisis has augmented fiscal deficits, intensified poverty and humanitarian crises, and aggravated existing developmental constraints. Current international and regional support initiatives still fall short of meeting Lebanon’s urgent need to face current critical challenges and capitalize on any potential opportunities. Raed H. Charafeddine, the First Vice-Governor of Banque Du Liban, Lebanon’s Central Bank, explores these dimensions and highlights the role of the Central Bank in mitigating the impact of the Syrian crisis on Lebanon through monetary and financial stability, sustained social development, and economic growth.
Mario Einaudi Center for International Studies
Middle East; Syrian Crisis; Lebanon; Refugees; Central Banking