Palestinian Economy Has Been Devastated by War, World Bank Says
- Gaza’s GDP plummeted by 80% in fourth quarter of 2023
- Israel bars West Bank Palestinians from working in Israel now
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The Palestinian economy, hobbled for years by Israeli occupation in the West Bank and the near-closure of the Gaza Strip’s borders with both Israel and Egypt, has suffered a devastating blow from Israel’s war against Hamas, the World Bank says in a new report.
The study says that since the start of the conflict on Oct. 7, “the Palestinian economy experienced one of largest shocks recorded in recent economic history.”