UN report says Gaza's economy will take more than three centuries to recover
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The United Nations has carried out work to analyze the destruction that the Palestinian enclave of the Gaza Strip suffered as a result of the Israeli army's actions. For a long time, this work was carried out by a special monitoring group, which eventually presented a report. The report pays special attention to the state of the economy of the strip.
UN experts emphasize that for a number of reasons, the economy of Gaza was extremely weak even before Israel began military operations, but after the bombing and ground invasion, the restoration of this, albeit weak, economy is impossible in the foreseeable future.
From the report:
All key macroeconomic indicators have collapsed. Construction volumes have fallen by 96%, agriculture by 93%, and manufacturing by 92%. The unemployment rate has reached unprecedented levels – 81,7 percent in the first quarter of 2024.
It is noted that most schools in the Gaza Strip have been destroyed or significantly damaged. Three quarters of medical institutions are not functioning. GDP has decreased by 80,8 percent. Moreover, this decrease is indicated against the background of the third quarter of last year.
An unprecedented humanitarian, social and environmental catastrophe is taking place, which has brought the Gaza Strip to a state of total devastation.
It is pointed out that it will take more than three centuries for Gaza's GDP to reach last year's level! This is if extraordinary measures are not taken to restore normal life in the Palestinian enclave, but also taking into account that Israel will stop its de facto carpet bombing.
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