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Lebanon + 1 more

WFP RAM | Food Security Analysis - Lebanon Market Monitor, November 2024

Attachments

Key Figures

Inflation (Oct-24) +2 percent (-0.18 percent in Sep-24)

Informal exchange rate (Nov-24) LBP 89,700/USD (same since Nov-23)

Situation Monitoring – Market Functionality

WFP’s rapid monitoring revealed rising costs of food and non-food items, significant market disruptions, and varying shop operationality, with improvements after the ceasefire in many regions.

WFP's Market Functionality Index (MFI) reflected severe disruptions in conflict-affected areas in November 2024, while markets in Beirut and Mount Lebanon remained relatively functional.

Domestic Food Supply

Lebanon’s agricultural output is expected to decline significantly in 2024, with local wheat production covering only 12 percent of domestic consumption (WFP-FAO CFSAM).

Economic Activity

The Fall 2024 World Bank Lebanon Economic Monitor projects a 5.7 percent GDP contraction in 2024 due to the escalating conflict, with USD4.2 billion lost in consumption and exports and USD3.4 billion in infrastructure damages.

BDL's liquid foreign reserves fell by USD515 million between September and November 2024, reaching USD10.15 billion

Lebanon's PMI rose to 48.1 in November 2024 from October’s 44-month low of 45, reflecting a less severe contraction in private sector activity