Bethlehem/ PNN/ Manar Abudayah
In just 12 months, Israel managed to further devastate the already struggling economy of Gaza, which has been under a tight blockade for over 17 years. With ongoing genocidal actions since October 7, 2023, Palestinians are facing the challenge of rebuilding their economy from scratch, as the unemployment rate in Gaza has soared to a staggering 80%, affecting the overall rate in the Palestinian territories.
Before the onslaught, Gaza’s economy contributed about 14% to Palestine’s GDP, valued at $2.8 billion, with an unemployment rate of 40%. However, the situation has worsened drastically, with the overall unemployment rate now exceeding 50%. The impact of Israeli actions on employment has been severe, with Gaza’s unemployment rate reaching 79.1% and the occupied West Bank also experiencing a significant increase.