GENEVA, November 25. /TASS/. Israel’s military operations in the Gaza Strip wiped away more than twenty years of Palestine’s economic development, the UN Conference on Trade and Development said in its report titled "Developments in the Economy of the Occupied Palestinian Territory."
"The military operations have had significant macroeconomic repercussions. By 2024, the gross domestic product (GDP) of the Occupied Palestinian Territory had fallen to 70 per cent of the 2022 level, with output shrinking by 27 per cent compared with in 2023. This decline led to a 28 per cent drop in GDP per capita from 2023 levels and a 33 per cent drop from 2022 levels. By end-2024, the economy had regressed to 2010 levels," UNCTAD said.
"While the downturn was severe across Palestine, Gaza has experienced the most devastating impact," UNCTAD experts added. A serious humanitarian crisis accompanied by impoverishment of the population, they stressed.