Palestinian Minister of Economy Mohammed Al-Amour revealed that the ability of the economy, in the event of the continuation of the Israeli aggression, becomes completely unable to absorb the risk of bankruptcy, expecting the economy to contract by the end of this year by 10%. He added that unemployment rates rose in the first quarter of this year, reaching 51%, or the rate of loss of about half a million jobs.
Al-Amour pointed out that unemployment rates in the Gaza Strip have reached record levels that exceeded 80% and poverty 100%, and the production of economic sectors in the West Bank lost 27% compared to the normal production rate. About 30% of economic establishments were also closed as a result of the destruction, bulldozing, incursions, and the placement of barriers, which increased from 500 checkpoints before October last year to more than 770.
