Objective: To examine the outcomes of COVID-19 and a collapsing economy on mental well-being (MWB) of the general Lebanese population.Design/methods: This cross-sectional study enrolled 502 adults in May 2020.Results: MWB had a mean of 14.80. Female gender, university education, fear of COVID-19, fear of poverty, verbal violence at home, and chronic disease were associated with lower MWB. Better family satisfaction and financial situation were correlated with better MWB. Among workers/looking for a job: physical exercise was associated with better MWB, while previous waterpipe smoking, being self-employed before the crisis, working from home, closure of the institution, and worrying about long-term effects of the crisis on employment status were associated lower MWB. The fear of COVID-19 was not associated with MWB.Practical Implications: The Lebanese government should implement a reliable crisis management strategy that outlines stabilization and recovery measures to help people navigate through this period with minimal impact on mental, physical, and overall quality of life.