Gaza war sets development back 20 years and destroys Palestinian economy — Global Issues

of Joint research According to the United Nations Development Program (UNDP) and the Economic and Social Commission for West Asia (eskwa), revealed. Poverty rate soars to 58.4% Nearly 1.74 million more people have been pushed into poverty since the October 7 Hamas-led terrorist attacks began the escalation of violence.

At the same time, gross domestic product (GDP) plummeted by 26.9%, resulting in a loss of $7.1 billion compared to the pre-war 2023 baseline.

“The more days this war lasts, the more imposing huge and complex costs on Gazans and all Palestinians.both now and in the medium and long term,” said UNDP Administrator Achim Steiner.

“There will be unprecedented levels of human loss, destruction of capital, and a surge in poverty in such a short period of time.” A serious development crisis that threatens the future of future generations

Suffering never stops in battle

Predictions in the assessment paint a bleak picture of a protracted conflict.

If the war lasted nine months, poverty levels would more than double to 60.7%, with an additional 1.86 million people potentially falling into poverty. GDP will fall by another 29%representing a total loss of $7.6 billion.

The assessment also warned of a sharp decline in the Human Development Index (HDI), UNDP’s composite measure of well-being. In that scenario, the Palestinian state’s HDI could drop to his 0.647. Reverse progress by more than 20 years, back to pre-2004.

Gaza falls for the first time in 44 years

In the case of Gaza, the forecast is even more dire. After nine months of war, the HDI would reach 0.551, potentially slowing progress by 44 years.

Laura Dashti, ESCWA Executive Director, highlighted the unprecedented scope of destruction in Gaza, noting that the region could become completely dependent on external aid.

“Unlike previous wars, the destruction in Gaza today is unprecedented in scope and scale, and combined with the loss of housing, livelihoods, natural resources, infrastructure, and even institutional capacity, will continue to wreak havoc in tens of years to come.” “This could have serious and systemic impacts for years,” she said. .

completely dependent on outside help

The assessment predicts that Gaza will become completely dependent on external aid on a scale not seen since 1948.A functional economy, or the means of production, self-sufficiency, employment, and trade capacity will remain absent,” Dashti added.

The results of this assessment are consistent with the Joint Interim Damage Assessment by the World Bank and the United Nations. As of January 2024, direct damage to Gaza’s infrastructure is estimated at $18.5 billion.This represents 97 percent of the total GDP of the Palestinian state in 2022.

Related Article

0 Comments

Leave a Comment