Reported 6 months ago
The World Bank estimates that the Palestinian economy is facing significant challenges due to the war in Gaza, with a widening financing gap, deteriorating growth, and severe job losses. The Palestinian Authority's financing gap is projected to almost double to $1.2 billion in 2024, raising concerns of potential fiscal collapse. The economy is forecasted to contract between 6.5% and 9.4% this year, with nearly half a million jobs lost since the conflict began in October, particularly impacting Gaza and the West Bank. Gaza's income per capita has dropped significantly, leading to high levels of poverty and food insecurity. Israel is intensifying military operations in Rafah, prompting concerns from allies about civilian conditions and calls for a cease-fire.
Source: YAHOO