This is probably the reality Lebanon will have to face. With the end of the war, the countdown has begun, including an assessment of damages estimated at $6 billion and the initiation of reconstruction. The productive and economic sectors will have the opportunity for a significant recovery, starting with the laying of the cornerstone on the site of a demolished house.
Economists estimate losses at $7 billion, excluding direct destruction. Reconstruction will stimulate activity in dormant industries, as well as the trade of goods and suspended sectors. It will also significantly boost the sales of items for homes, businesses and institutions.
Local commercial markets are expected to see a resurgence in activity with the sale of furniture, kitchenware and other essential household equipment, following a 40% drop in sales before the conflict and a complete halt during the war.
Reconstruction will positively impact sales of automotive parts and household appliances due to the need to replace many cars and domestic appliances destroyed during the war. It will also help reduce unemployment by creating job opportunities for many young people in construction sites, factories and businesses.
The reconstruction phase is not merely a series of building projects. It is a genuine push toward the revival of the Lebanese economy. Devastated sectors are preparing to resume operations, while markets await their customers. The workforce is mobilized, with numerous job opportunities. It is a unique opportunity to rejuvenate the economy as a whole, carrying with it the hope for a more promising future.
Comments