Gaza (Union)
The United Nations Conference on Trade and Development (UNCTAD) confirmed that returning the Gaza Strip to the economic situation that prevailed before the current war may take decades, in the absence of a recovery program supported and funded by the international community.
This came in a report prepared by the United Nations Conference on Trade and Development regarding the economic and social deterioration taking place in Gaza as a result of the war that broke out on the seventh of last October.
The report explained that UNCTAD estimates indicate a contraction in the Gaza economy by 4.5 percent in the first three quarters of 2023, and that the military operation will significantly accelerate this contraction.
The report pointed out that the war will accelerate the contraction of the GDP by 24 percent and the decline in the per capita GDP by 26.1 percent over the course of the entire year.
The report indicated that the unemployment rate, which was 45 percent in Gaza before October 7, rose to approximately 80 percent by last December.
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