Beirut, April 09 (QNA) - Lebanese Minister of Economy and Trade Dr. Amer Bisat confirmed that the country has entered a phase of caution and anticipation since the outbreak of the war on Lebanon on March 2, due to fears related to regional instability. He noted that emergency plans had been developed and studied in advance, and were activated immediately after the outbreak of the war.

The Lebanese Minister of Economy and Trade told Qatar News Agency (QNA) that Lebanon is facing a clear economic shock at all levels. The scale of destruction is large and widespread, and the competent authorities have begun conducting a comprehensive engineering survey, including the use of modern technologies to estimate the extent of the damage.

The exact figures are still not available, but it cannot be ruled out that the losses recorded will exceed those recorded in 2024, he added.

The minister pointed out that the economic losses in Lebanon are not limited to material damages, but also include the closure of a number of companies, a decline in tourism, and the disruption of exports, which would exacerbate the overall losses.

Dr. Bisat stated that GDP recorded a decline of about 7% in 2024, adding that initial estimates indicate that the current rate of decline may be similar or slightly higher, in light of what he described as a major structural shock.

He stressed that the priority is currently focused on ensuring the continued availability of basic goods, confirming that stocks of food, wheat, fuel and medicines are still available.

The Lebanese minister acknowledged the difficulty of the current stage, noting that the economic losses are very large, but he stressed that the country is working to adapt to these repercussions, especially by maintaining the availability of stocks of basic goods and ensuring the continuity of supplies in the markets.

Dr. Bisat confirmed that the Ministry of Economy and Trade is monitoring prices on a daily and weekly basis for about 60 basic commodities, noting the reactivation of the National Price Policy Council after years of stagnation, where it holds periodic meetings to follow up on market developments.

He added that the ministry intervenes when any unjustified increases are detected, in coordination with the relevant authorities, including ports and the judiciary, to control violations and reduce exploitation, stressing the continuation of this mechanism permanently to ensure consumer protection under the current circumstances.

Lebanon is suffering from difficult economic conditions amid escalating military tensions in the region since February, and the direct repercussions this has had on Lebanon, which is already suffering from a financial and structural crisis that has been ongoing since 2019. (QNA)