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BEIRUT EXPLOSION WILL WORSEN THE LEBANESE ECONOMY

Lebanese officials say that the Beirut explosion will worsen the already very weak Lebanese economy.

BEIRUT EXPLOSION WILL WORSEN THE LEBANESE ECONOMY
Yazar: Tom Roberts

Yayınlanma: 5 Ağustos 2020 20:31

Güncellenme: 25 Ekim 2024 01:10

BEIRUT EXPLOSION WILL WORSEN THE LEBANESE ECONOMY

According to the latest statements by the authorities, at least 135 people were killed and 5000 wounded after the explosion in the capital of Lebanon, Beirut. The buildings and vehicles were damaged in a very large area in the explosion in the port of Beirut. Besides Lebanese officials say that the Beirut explosion will worsen the already very weak Lebanese economy. First, a fire broke out in Beirut Port, the main trade port of Lebanon, in the 12th warehouse containing explosive materials. After the fire, a very strong explosion took place in the warehouse that shook the entire Beirut, and as a result, over a hundred people died and thousands were injured. Lebanese officials announced that 2,700 tons of ammonium nitrate, kept in a warehouse for 6 years, was exploded in Beirut Port while it was intended to be shipped to a country in Africa. As a result of the explosion, the Port of Beirut, one of the most important trade ports of the region, has turned into ruins. Beirut Port, which was largely destroyed in the explosion, is located on the Mediterranean coast in the north of the capital. Located at the foot of the Lebanese Mountains, the port plays an important role in the Lebanese economy as one of the largest and busiest ports in the Eastern Mediterranean. Beirut Port is one of the most important ports of the Eastern Mediterranean and is the gate of Lebanon opening to the world by sea. According to the "Shipment Connection Line" index report published by the United Nations (UN) Conference on Trade and Development (UNCTAD) in 2018, Beirut Port ranked 38th among 171 ports worldwide. At the regional level, Beirut Port ranks 6th among the port countries in the Middle East in the same index. The report highlights how important Beirut Port's performance is, in both its regional and worldwide rankings. With its geostrategic position, the port is one of the leading ports that provide the connection of Jordan, Saudi Arabia, Iraq and other Gulf countries with the Mediterranean.
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