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Lebanon faces rising inflation, looming food crisis as Israeli attacks continue

China

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Lebanon faces rising inflation, looming food crisis as Israeli attacks continue

2024-10-09 22:32 Last Updated At:10-10 05:37

As Israeli attacks continue, Lebanon is grappling with soaring inflation and stagnant food production, raising fears of an impending food crisis.

Data showed that over 1.2 million people are currently displaced, with many families seeking refuge from Israeli airstrikes. Meanwhile, inflation rates have surged beyond 40 percent, causing the prices of essential goods to skyrocket. Basic necessities have become unaffordable for many families.

Yahya is currently living in an underground basement with his family in Beirut after fleeing from the airstrikes. The room is the only place they can afford with his family stuck in a poor financial situation.

"My father lost his job. The financial situation for my family is bad. I found myself a job, so I can assist my family now,” said Yahya.

With prices skyrocketing, Yahya must work longer hours to make ends meet. What used to be manageable has become an exhausting routine of extended shifts to cover basic needs.

"Things were better back then because prices were reasonable. Now everything has doubled in price. I used to work nine hours a day, but I have to work 12 hours now to meet my family's needs. It's exhausting," he said.

Even before the outbreak of hostilities, Lebanon's economy was fragile. Despite inflation rates exceeding 35 percent, prices remained relatively stable. However, since the onset of the conflict, the situation has taken a sharp turn for the worse.

Inflation has skyrocketed, surpassing 40 percent, and the cost of necessities has doubled or even tripled, making it incredibly difficult to afford everyday items like food and fuel.

The ongoing airstrikes have driven farmers and field workers away from their lands, leaving fields untended and crops unharvested. This disruption in agricultural production has further exacerbated the situation, leading to rising food prices.

"The directly related sector to agriculture is the agro-food sector. The industrial agro-food sector in Lebanon is the largest and the most productive sector. If this sector will stop, we will be facing a food crisis in Lebanon because 60 percent of the food in Lebanon is coming from the agriculture and the agro-food sector," said Hashem Abou Jaoud, a political-economist and expert in labor, markets and socio-economic development.

Many are now deeply concerned that Lebanon could soon face a full-blown food crisis, as the nation, already ravaged by conflict, struggles to secure even the basic necessities.

Lebanon faces rising inflation, looming food crisis as Israeli attacks continue

Lebanon faces rising inflation, looming food crisis as Israeli attacks continue

China's science and technology sector made rapid progress in 2025, with the country's scientific and technological strength reaching a new level and a host of achievements emerging, said Yin Hejun, minister of science and technology on Thursday.

During a group interview at the Great Hall of the People in Beijing following the opening meeting of the fourth session of the 14th National People's Congress (NPC), Yin offered an overview of China's sci-tech development and achievements in 2025.

"China's sci-tech sector has witnessed rapid development, with its scientific and technological strength ascending to new heights. The country has climbed to the 10th position in the global innovation ranking. China's gross domestic research and development spending in 2025 exceeded 3.92 trillion yuan (about 568 billion U.S. dollars), with the spending intensity reaching 2.8 percent. Basic research investment approached 280 billion yuan (about 41 billion U.S. dollars), accounting for 7.08 percent of the total -- topping 7 percent for the first time and hitting a historic high," said the minister.

Yin also highlighted the bounty of breakthroughs in China's sci-tech sector over the past year.

"A flourishing array of scientific and technological achievements has emerged. Humanoid robots dazzled audiences at the 2026 Spring Festival Gala, evolving from performing Yangge folk dance and twirling handkerchiefs last year to turning somersaults and starring in comedy skits this year, showcasing a versatile repertoire of skills. China's open-source large language models now lead the world, and new breakthroughs have been made in chip research and development. Moreover, and innovative drugs have seen robust growth. A total of 76 innovative drugs were approved last year, with cross-border out-licensing deals exceeding 130 billion U.S. dollars. Technology has empowered industries across the board, significantly improving people's quality of life," he said.

The fourth session of the 14th NPC kicked off on Thursday and is set to conclude on March 12.

China's scientific and technological strength reaches a new level in 2025: minister

China's scientific and technological strength reaches a new level in 2025: minister

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