A report issued by the United Nations revealed that the Israeli war on the Gaza Strip — which lasted two years — along with economic restrictions, caused an unprecedented collapse in the Palestinian economy.
According to the report issued by the United Nations Conference on Trade and Development (UNCTAD), “the severe damage inflicted on infrastructure, productive assets, and public services has wiped out decades of social and economic progress in the occupied Palestinian territory.”
The report noted that Palestinian GDP per capita returned by the end of last year to its 2003 level, meaning the Palestinian economy has lost 22 years of development. It added that the resulting economic crisis is among the ten worst economic crises globally since 1960.
