The World Bank predicted that the ongoing war in the Gaza Strip will push towards a "sharp" contraction in the Palestinian economy, amid "devastating" effects on the population in the Gaza Strip and, to a lesser extent, in the West Bank.
According to the World Bank's Economic Assessment of Palestine, the Israeli war on the Gaza Strip, which continues for the third month in a row, will have "devastating long-term" effects on the Palestinian economy.
The World Bank report follows several economic reports issued by the Palestinian Central Bureau of Statistics and the Palestinian Ministry of Economy, all of which agreed on a "sharp" contraction of the local economy for the current and next years.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
