A war on Lebanon began on 8 October 2023. This report presents a comprehensive analysis of its immediate impact and far-reaching consequences. It provides a solid analysis to inform the country’s immediate recovery plan and guide longer-term reform efforts to address the structural challenges facing Lebanon. To this end, the report explores the impact of the war on various sectors, from the physical damage incurred to infrastructure and economic systems to the profound human and social costs. It also assesses the broader macroeconomic effects of the conflict, highlighting how existing challenges have been exacerbated, resulting in deepened vulnerabilities across multiple dimensions of society and the economy. The report provides short-, medium- and long-term policy recommendations to serve as foundations for recovery efforts.