Shafaqna English- Gaza’s economy has shrunk to less than a sixth of its size after Israeli war on Gaza nearly a year ago, a UN’s Report said.
The report by the United Nations Conference on Trade and Development (UNCTAD) described Gaza’s economy as “in ruins” more than 11 months after Israel launched a military campaign there that has reduced much of the Strip to rubble.
The UN’s trade body said the Palestinian Authority (PA), which exercises limited self-rule under Israeli occupation in the West Bank, is under “immense pressure” that is jeopardising its ability to function.
In addition to the economic slowdown caused by Israel’s war, falling international aid and revenue deductions and withholdings by Israel – which UNCTAD estimated at more than $1.4 billion since 2019 – are adding to the strain, it said.
Sources: New Arab