Gaza and West Bank Economy Plunges as Poverty Soars Amidst Ongoing Conflict
A new report by the United Nations Development Programme (UNDP) warns that Israel's war on Hamas has severely impacted the Palestinian economy in Gaza and the West Bank, setting it back more than a decade. The conflict has led to a rise in poverty, displacement of people, and a humanitarian crisis. Key economic indicators such as employment rates and GDP have plummeted, with a projected loss of $857 million in GDP after one month of war. The report predicts an 11 to 16-year setback in human development across the region, and if the fighting continues, the setback could be as much as 19 years.