Lebanon Losing Up To US$160 Mln Per Day Amid Conflict - Economic Association

BEIRUT, April 30 (Bernama-Sputnik/RIA Novosti) -- The daily economic impact of the war against Israel, including both direct and indirect losses, stands at US$150-US$160 million, chairman of the Lebanese Economic Organisations Mohamed Choucair stated on Wednesday, reported Sputnik/RIA Novosti.

"Direct and indirect losses from the war are estimated at US$150-US$160 million daily," Choucair told reporters after a meeting with Lebanese President Joseph Aoun.

The politician noted that the business community is counting on stabilisation of the situation and expressed support for the authorities' efforts to end the conflict with Israel, emphasising that the country needs reconstruction and development after a long period of tension.

A ceasefire between Lebanon and Israel has formally been in place since April 16. However, the Israeli side continues daily strikes on areas of southern Lebanon. In response, the Lebanese Hezbollah movement has said it is responding to violations of the agreement by attacking Israeli military targets on the border, calling its actions defensive.

-- BERNAMA-SPUTNIK/RIA NOVOSTI