According to the latest data updated by the financial institution, the GDP of the Gaza Strip collapsed by 86% at the end of the first half of 2024, compared to the same period a year earlier.
In total, the impact for the entire Palestinian economy represents a fall of 33.6% in its GDP, also due to the tensions generated in the West Bank (drop of 23.3% in GDP) by the operations of the Israeli army and increased pressure from Israeli settlers.
At the same time, inflation has now reached 300% year-on-year in October.
The prices of foodstuffs have soared by 440% over one year, those of energy by more than 200%, due to major supply disruptions and the difficulty in getting food aid to populations in the need.
As a result, 91% of the population in the Gaza Strip face marked food insecurity, including 875,000 people in an emergency situation and 345,000 people in an absolute emergency.
At the same time, Gazans no longer have a place to shelter during the winter, with nearly 90% of homes having been destroyed or severely damaged, the report also points out.
The private sector is also largely destroyed, with more than 88% of businesses destroyed or damaged, as is 70% of the road network.
Certain sectors of activity, such as agriculture or fishing, construction, industry, transport or financial activities simply no longer exist in the territory.
Among the few positive points, the Palestinian financial sector remains rather solid.
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