Gaza's 77 Years of Development Decline

A report indicates that Gaza is facing its worst economic crisis in history, following three years of war that began on October 7, 2023. 92% of economic facilities have been destroyed, and agricultural and industrial output has declined by 94%. Additionally, 1.9 million people have been displaced, and vital infrastructure has collapsed. Material damages have exceeded $35.2 billion, while economic losses amount to $22.7 billion. The cost of reconstruction over the next decade is projected to surpass $71.4 billion. International funding remains a major obstacle, as only $280 million has been disbursed out of commitments totaling $18 billion. Experts emphasize the necessity of self-reliance through employing local workers, supporting fishing and agricultural sectors, and rehabilitating key industries, alongside transitioning towards an economy based on technology and renewable energy—contingent upon lifting the siege and opening border crossings to end the ongoing collapse.

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