Poverty in Lebanon tripled over a decade, World Bank says

By ABBY SEWELL
Associated Press

BEIRUT (AP) — The World Bank says poverty in Lebanon has tripled over the course of a decade during which the small Mediterranean country slid into a protracted financial crisis. The percentage of people in Lebanon living below the poverty line rose from 12% in 2012 to 44% in 2022. That’s according to a report from the World Bank based on surveys conducted in five of the country’s eight governorates. Beginning in late 2019, Lebanon’s currency collapsed, while inflation skyrocketed and the country’s GDP plummeted. Many Lebanese found that the value of their life savings had evaporated.