Editing Lebanon (section)

=== Development ===
In the 1950s, GDP growth was the second highest in the world. Despite having no oil reserves, Lebanon, as the Arab world's banking center<ref>Podeh, Elie. ''The Quest for Hegemony in the Arab World: The Struggle Over the Baghdad Pact'', Brill Academic Pub (1 August 1997), page 154</ref> and among its trading center, had a high national income.<ref>{{cite book|author=Baten, Jörg |title=A History of the Global Economy. From 1500 to the Present.|date=2016|publisher=Cambridge University Press|page=231|isbn=9781107507180}}</ref>[[File:Real-gdp-per-capita-PennWT.png|thumb|left|Lebanese real GDP 1970–2017]]

The [[Lebanese Civil War|1975–1990 civil war]] heavily damaged Lebanon's economic infrastructure,<ref name="Stinson" /> cut national output by half, and all but ended Lebanon's position as a West Asian [[entrepôt]] and banking hub.<ref name="cia" /> The subsequent period of relative peace enabled the central government to restore control in [[Beirut]], begin collecting taxes, and regain access to key port and government facilities. Economic recovery has been helped by a financially sound banking system and resilient small- and medium-scale manufacturers, with family remittances, banking services, manufactured and farm exports, and international aid as the main sources of foreign exchange.<ref name="cia2001">{{cite web|url=http://teacherlink.ed.usu.edu/tlresources/reference/2001WorldFactbook/LEBANON.PDF |archive-url=https://web.archive.org/web/20070614003953/http://teacherlink.ed.usu.edu/tlresources/reference/2001WorldFactbook/LEBANON.PDF |archive-date=14 June 2007 |title=CIA World Factbook 2001 |access-date=17 January 2013}}</ref>[[File:Frances_Guy,_Beirut_Dock's_you_can_just_about_see_the_snow-capped_peaks_(2213410431).jpg|thumb|Port of Beirut]]Until July 2006, Lebanon enjoyed considerable stability, Beirut's reconstruction was almost complete,<ref>{{cite web| url=http://www.csbe.org/saliba/essay1.htm| archive-url=https://web.archive.org/web/20110725210323/http://www.csbe.org/saliba/essay1.htm| archive-date=25 July 2011| title=Deconstructing Beirut's Reconstruction: 1990–2000| publisher=Center for the Study of the Built Environment| access-date=31 October 2006}}</ref> and increasing numbers of tourists poured into the nation's resorts.<ref name="tourism">{{cite news| url=https://www.chron.com/default/article/Lebanon-hopes-for-stability-so-tourism-industry-1895818.php| author=Johnson, Anna| year=2006| title=Lebanon: Tourism Depends on Stability| newspaper=Chron| access-date=31 October 2006| archive-url=https://web.archive.org/web/20120113012527/http://www.chron.com/default/article/Lebanon-hopes-for-stability-so-tourism-industry-1895818.php| archive-date=13 January 2012| url-status=live| df=dmy-all}}</ref> The economy witnessed growth, with bank assets reaching over 75&nbsp;billion US dollars,<ref name="economy-stat">{{cite web|url=http://www.audi.com.lb/geteconomy/quarterly/lebanon.pdf|archive-url=https://web.archive.org/web/20081123013845/http://www.audi.com.lb/geteconomy/quarterly/lebanon.pdf |archive-date=23 November 2008 |title=Lebanon Economic Report: 2nd quarter, 2006 |publisher=Bank Audi |access-date=17 January 2013}}</ref> [[Market capitalization]] was also at an all-time high, estimated at $10.9&nbsp;billion at the end of the second quarter of 2006.<ref name="economy-stat" /> The month-long [[2006 Lebanon War|2006 war]] severely damaged Lebanon's fragile economy, especially the tourism sector. According to a preliminary report published by the Lebanese [[Ministry of Finance (Lebanon)|Ministry of Finance]] on 30 August 2006, a major economic decline was expected as a result of the fighting.<ref>{{cite web |url=http://www.lebanonundersiege.gov.lb/documents/ImpactonfinanceReport-Englishversion-06.pdf |title=Impact of the July Offensive on the Public Finances in 2006 |publisher=Lebanese Ministry of Finance |access-date=17 January 2013 |archive-url=https://web.archive.org/web/20090325004048/http://www.lebanonundersiege.gov.lb/documents/ImpactonfinanceReport-Englishversion-06.pdf |archive-date=25 March 2009 |url-status=dead}}</ref>

Over the course of 2008 Lebanon rebuilt its infrastructure mainly in the real estate and tourism sectors, resulting in a comparatively robust post war economy. Major contributors to the reconstruction of Lebanon include [[Saudi Arabia]] (with US$1.5&nbsp;billion pledged),<ref>{{cite web|url=http://www.cynews.com/news/7005070415/ |archive-url=https://web.archive.org/web/20070928180742/http://www.cynews.com/news/7005070415/ |archive-date=28 September 2007 |title=Saudi Arabia Key Contributor To Lebanon's Reconstruction |author=Joseph S. Mayton |publisher=Cyprus News |date=28 September 2007 |access-date=17 January 2013}}</ref> the European Union (with about $1&nbsp;billion)<ref>{{cite web |url=http://reliefweb.int/node/434440 |title=Donors pledge over $940 million for Lebanon |publisher=Reliefweb.int |date=31 August 2006 |access-date=17 January 2013 |archive-url=https://web.archive.org/web/20120112150202/http://reliefweb.int/node/434440 |archive-date=12 January 2012 |url-status=live}}</ref> and a few other Persian Gulf countries with contributions of up to $800&nbsp;million.<ref>{{cite web|url=http://www.ain-al-yaqeen.com/issues/20060825/feat2en.htm |archive-url=https://archive.today/20061020061315/http://www.ain-al-yaqeen.com/issues/20060825/feat2en.htm |url-status=dead |archive-date=20 October 2006 |title=The Custodian of the Two Holy Mosques Reviews with the Jordanian King the Situation in Lebanon... |publisher=Ain-Al-Yaqeen |access-date=17 January 2013}}</ref>