The cautious recovery we witnessed at the beginning of the first quarter of 2026 retreated due to the outbreak of war, and Lebanon returned once again to a stifling state of stagflation.

After the beginning of the first quarter of 2026 saw a noticeable improvement in commercial activity – the best since the start of the crisis in 2019 – the outbreak of war in March crushed all gains and reversed the recovery path we had witnessed since the previous quarter.

 

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