WASHINGTON - SABA: The World Bank revealed that all Gaza Strip residents suffer from poverty, with the rate reaching 100%, due to the consequences of the ongoing Zionist aggression on the Strip for about a year.
According to the Ma'an News Agency, this came in a report issued by the World Bank on Thursday, entitled "Palestinian Economic Update", as the war on the Strip is about to complete its first year, which caused the displacement of about two million people.
The bank indicated that inflation exceeded 250% due to the consequences of the ongoing aggression on the Strip for about a year, while the poverty rate in the West Bank rose from 12% to 28%.
The bank stated that the Palestinian territories witnessed a 35% decline in real GDP in the first quarter of 2024, which is "the largest ever".
It said: "The Gaza economy shrank by 86% during this period, while the West Bank economy shrank by 25%; unemployment in the Palestinian territories reached record levels and exceeded 50%".
The cessation of commercial operations in Gaza has left families without income, while prices of basic commodities have risen dramatically, with inflation exceeding 250%, according to the report.
He continued: “The education system in Gaza has collapsed, the health system has been severely damaged, with 80% of primary care centers no longer operating, and the poverty rate has reached 100%, while in the West Bank it has risen from 12% to 28%.”
He stressed that “the conflict has led to a severe shortage of cash in Gaza, affecting access to humanitarian aid and basic financial services
According to the Ma'an News Agency, this came in a report issued by the World Bank on Thursday, entitled "Palestinian Economic Update", as the war on the Strip is about to complete its first year, which caused the displacement of about two million people.
The bank indicated that inflation exceeded 250% due to the consequences of the ongoing aggression on the Strip for about a year, while the poverty rate in the West Bank rose from 12% to 28%.
The bank stated that the Palestinian territories witnessed a 35% decline in real GDP in the first quarter of 2024, which is "the largest ever".
It said: "The Gaza economy shrank by 86% during this period, while the West Bank economy shrank by 25%; unemployment in the Palestinian territories reached record levels and exceeded 50%".
The cessation of commercial operations in Gaza has left families without income, while prices of basic commodities have risen dramatically, with inflation exceeding 250%, according to the report.
He continued: “The education system in Gaza has collapsed, the health system has been severely damaged, with 80% of primary care centers no longer operating, and the poverty rate has reached 100%, while in the West Bank it has risen from 12% to 28%.”
He stressed that “the conflict has led to a severe shortage of cash in Gaza, affecting access to humanitarian aid and basic financial services