Palestinian economy facing unprecedented crisis: World Bank

The war in the Palestinian territories is devastating the local economy, with economic output in Gaza plummeting by 86 percent and in the West Bank by 23 percent, leading to a projected 26 percent contraction this year. The ongoing conflict has caused a collapse of basic services, skyrocketing poverty, and food insecurity for 91 percent of Gaza’s population, with significant disruptions in communication networks and a sharp rise in inflation. Israel’s retaliatory offensive has resulted in a high number of civilian casualties, exacerbating the crisis in the region.

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