BEIRUT, June 13 (HS/RIA Novosti) - The conflict with Israel has inflicted an estimated $20 billion in damage on Lebanon's economy and set the country back in its economic development, Lebanese Economy Minister Amer Bisat told RIA Novosti.

The war has caused widespread destruction, especially in the south of the country. The damage is estimated at about $20 billion, Bisat said.

In addition to direct damage, the economy suffered significant indirect losses, the minister added. The volume of the Lebanese economy has almost halved compared to the pre-crisis period, from $55-57 billion to about $32 billion, he said. As a result of the war, enterprises and factories were closed, about 28% of agricultural land actually stopped producing, and the tourism sector suffered a serious blow, Bisat added.

The losses of the tourism industry alone are estimated at about $2 billion, which corresponds to about 7% of the country's GDP, the minister said.

On March 2, the Hezbollah movement began rocket and drone attacks on Israel against the backdrop of the US and Israeli war against Iran. In response, Israel carried out massive airstrikes on Hezbollah targets in Beirut's southern suburbs, as well as in southern and eastern Lebanon, and launched a ground operation in the south of the country.

On April 16, the US-brokered talks resulted in a ceasefire agreement, although Israel continues daily attacks on dozens of settlements in southern Lebanon. Hezbollah responds with attacks against Israeli forces.

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Hindusthan Samachar / Indrani Sarkar