Lebanon’s Economy Quickly Collapsing Amid Hyperinflation, Power Outages

Lebanon’s Economy Quickly Collapsing Amid Hyperinflation, Power Outages
Demonstrators take part in anti-government protests that have been ignited by a massive explosion in Beirut, Lebanon, on Aug. 10, 2020. Hannah McKay/Reuters
Jack Phillips
Updated:

The economy of Lebanon is seeing a once-in-a-lifetime collapse amid hyperinflation and outages, according to a report from the World Bank.

The small Middle Eastern country has seen inconsistent power supply and outages after the massive explosion in its capital, Beirut, last year. The country, which is also dealing with hyperinflation, is seeing one of the worst three economic depressions globally since the mid-1800s, according to the World Bank.
Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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