Israel's 11-month war against Hamas has caused economical harm in the Gaza Strip in a "shocking scale", and reconstruction will cost tens of billions of dollars, according to a United Nations Trade and improvement Conference (UNCTAD) study published on Thursday.
According to a study in the Gaza Strip, "production processes were interrupted or destroyed, sources of income disappeared, poorness intensified and spread, neighbourhoods were eradicated and communities and cities were destroyed".
"The military operation has caused an unprecedented humanitarian, environmental and social crisis and has transformed the region from backward to devastated" - stressed.
"We don't know the degree of the harm before it all stops. However, the data we presently have indicate that it will be tens of billions or even more," said UNCTAD's Head of Coordination for Assistance to the Palestinians, Mutasim Elagraa, 1 of the authors of the report.
"It will take decades to scope levels before October 2023", he added and pointed out that the global community should aid the Gaza Strip "sustainable development".
The study shows that the economical impact of the conflict is disastrous in Gaza. The gross home product of this Palestinian territory fell by 81% in the last 4th of 2023, leading to a decrease of 22% throughout the year.
"By mid-2024, the Gaza economy had shrunk to little than 1 sixth of the 2022 level," UNCTAD states and states that by early 2024 between 80 and 96 percent of the agricultural assets in the Gaza Strip, including irrigation systems, breeding facilities, orchards, machinery and retention facilities, had been devastated, making it worse "and so already advanced levels of food insecurity".
"The demolition has besides hit the private sector heavily, as 82% of enterprises, the key driving force of the Gaza economy, have been damaged or destroyed", the study estimates.
According to UNCTAD, the economical situation in the West Bank of Jordan is besides worrying, with an increase of 4% in the first 9 months of last year, but optimism "suddenly was overshadowed by an unprecedented decline of 19% in the 4th quarter", leading to a "significant drop in the standard of surviving and household income".
The study notes that the expansion of illegal Israeli settlements, land confiscation, the demolition of Palestinian structures and the expanding number of checkpoints besides have a detrimental effect on economical activity in Palestinian lands.
According to the report, even East Jerusalem is severely affected, as 80% of its companies partially or completely ceased their activities.
UNCTAD's summary warns that poorness was widespread even before the war, but now it "affects almost the full population of the Gaza Strip and grows rapidly in the West Bank". 2 thirds of the jobs that existed before the war disappeared in the Gaza Strip.
Source: PAP
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