The United Nations Conference on Trade and Development released its latest annual economic report on Palestine in Geneva on the 25th local time. The report states that from 2006 to 2022, the Gaza Strip experienced 16 years of "reverse development", with extremely severe economic conditions that are expected to require billions of dollars in aid to repair its ravaged economy.
This report states that the blockade imposed by Israel on the Gaza Strip since 2007 has exacerbated the economic challenges there. With increasing tensions and the long-term stagnation of the peace process, 2022 is one of the worst years in history for Palestinians.
According to the data provided in the report, from 2006 to 2022, the total number of residents in Gaza increased by 61%, while the per capita economic output value decreased from $1994 in 2006 to $1257 in 2022, a significant decrease of 37%, and the unemployment rate increased from 35% to 45%. At the same time, more than half of the population lives in poverty. In contrast, the per capita economic output value of Palestinians in the West Bank increased from $2923 in 2006 to $4458 in 2022. These situations fully demonstrate that the Gaza economy, which relies on international aid for 80% of the population, has become "hollowed out".
The report concludes that the Gaza Strip has experienced 16 years of reverse development and requires a peaceful solution through negotiations in accordance with international law and relevant resolutions of the United Nations and the Security Council, ending hostilities, and increasing support for the Gaza Strip economy, thereby breaking the vicious cycle of destruction and local reconstruction. It is difficult to assess the exact amount of international economic assistance needed in the Gaza Strip before the current round of Israeli-Palestinian conflict ends, but it is expected that this amount will likely reach billions of dollars in order to meet the reconstruction needs of the Gaza Strip.