Dr. Nasser Saidi’s comments appeared in an article in The National titled “Lebanon’s economy could collapse completely if Israel–Gaza war spreads, warn analysts” published on 18th October 2023.
The comments are posted below.
“The economic situation and all the indicators will rapidly deteriorate as a result of the security crisis and the Hamas-Israel war which can spill over into Lebanon,” Nasser Saidi, a former economy minister and vice-governor of Lebanon’s central bank, told The National.
An escalation of the conflict into Lebanon, he said, would lead to “potential destruction of its remaining infrastructure, including ports and the airport which are the economic lifeline of the country given its high dependence on the Lebanese diaspora.”
Lebanon “could experience complete collapse” if the fighting continued to spread, added Mr Saidi, president of Nasser Saidi and Associates.
“Already we have seen population displacement from the south of the country, while we are witnessing an accelerated exodus of skilled professionals.”