Gaza's Economic Collapse: UNDP Report Highlights Dire Consequences

The UNDP reports that Gaza's economy has drastically shrunk due to the war between Israel and Hamas, plunging nearly all of Gaza's population into poverty. As socio-economic indicators collapse, including a near 100% poverty rate, recovery to pre-war levels is projected to take over a decade even with optimal international aid.

The Palestinian economy has faced severe devastation due to the ongoing conflict between Israel and Hamas, as revealed in a recent report by the United Nations Development Programme (UNDP). Quality of life indicators, such as health and education, have been set back by 70 years according to the agency.

Chitose Noguchi from the UNDP highlights that the economies of Gaza and the West Bank are now significantly smaller, attributing this to the impact of Israel's invasion of Gaza. She notes the alarming rise of poverty and unemployment in Gaza, with the situation regressing to levels seen in 1955.

Recovery remains a distant goal, requiring more than a decade for economic output to restore itself, even with consistent international aid. The conflict has left essential infrastructure in ruins and caused significant loss of life in Gaza, affecting millions who need urgent humanitarian assistance.

(With inputs from agencies.)