UN report lays out how Israel has decimated the Palestinian economy
A United Nations report warns the Israeli occupation has battered the Palestinian economy, wiping out nearly two decades of growth in just over a year.It says Gaza’s economy is in freefall since Israel’s war began and is now worth just 13% of its value in 2022.
It also found GDP in the occupied West Bank plunged 17% last year due to Israeli military actions, with per capita income falling to 2008 levels.
The report estimated that without decades of Israeli occupation, real per capita income among Palestinians could have been 241% higher.
The UN warns the toll on the economy and ongoing violence will have a devastating effect on people and is calling for an end to the expansion of illegal Israeli settlements and the lifting of restrictions on the Palestinian economy.
Raja Khalidi is the Director General of the Palestine Economic Policy Research Institute.
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