11 Hrs
Source:
الصباح
Gaza faces severe economic crisis
Three years after the October 7, 2023 attack and the subsequent war in Gaza, international reports confirm that the strip is experiencing the worst recorded economic crisis in history, with most infrastructure and production severely damaged. About 92% of economic facilities have been damaged or completely destroyed, agricultural and industrial output shrank by 94%, and the construction sector collapsed by 99% compared to 2022. Additionally, around 90% of homes have been destroyed or damaged, leading to the displacement of 1.9 million people, with over 90% of the electrical grid assets and half of the hospitals out of service. The per capita Gross Domestic Product has fallen to $212 annually, unemployment rates have risen between 78% and 85%, and prices have increased by 274%, pushing most people into extreme poverty. Reconstruction efforts are significantly delayed; out of the $18 billion in international funding pledged, only $280 million have been delivered so far.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)