The economy of the occupied Palestinian territory is experiencing its worst collapse on record, driven by the impact of Israel’s war on Gaza and long-standing restrictions on movement and trade, according to a new United Nations report.
The report says two years of military operations and economic curbs have pushed the territory into one of the ten most severe economic downturns recorded globally since 1960. Widespread damage to infrastructure, productive assets, and public services has reversed decades of socioeconomic progress across Gaza and the West Bank, including East Jerusalem, with Gaza facing the most severe economic crisis on record.
The findings were released as Israeli attacks on Gaza continue despite a temporary ceasefire, following the conflict that began in October 2023 after an attack on southern Israel that killed more than 1,100 people and led to around 240 captives being taken into Gaza.
(AJE)