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UN Reports Gaza Faces Severe Economic Crisis
Gaza is currently experiencing the worst economic crisis in the world, with Israeli war efforts destroying approximately 92% of economic facilities, leading to the loss of hundreds of thousands of jobs and an unprecedented deterioration of the financial situation. The estimated cost of reconstruction and recovery is around $71.5 billion, with per capita gross domestic product projected to drop to about 58 cents daily by 2025, compared to 2022. Unemployment has reached a record high of 78%, and the agriculture and industry sectors have declined by 94%, while prices have surged by 274%. Meanwhile, the West Bank faces additional pressures from population growth and displacement, amid reports of ongoing systematic destruction of resources and land. Reports indicate that Gaza’s recovery will require extensive efforts to rebuild damaged sectors and secure financial support, amid continued bombing and aggression in the region.
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