UNCTAD Warns of Absolute Poverty in Gaza, Record Economic Downturn in West Bank; 69 Years of Development Lost

UNCTAD Warns: Gaza in Absolute Poverty, West Bank Suffers Record Economic Collapse

The United Nations Conference on Trade and Development (UNCTAD) has issued a stark warning regarding the economic and humanitarian situation in the Palestinian territories. The report highlights absolute poverty in Gaza and an unprecedented economic collapse in the West Bank. This crisis, described by UNCTAD as the most severe economic downturn ever recorded, effectively reverses 69 years of human development progress in the region.

Gaza's Plight: Absolute Poverty Takes Hold

The UNCTAD report underscores the dire conditions in Gaza, where absolute poverty has become widespread. Years of blockade and conflict have decimated the local economy, leaving a significant portion of the population struggling to meet basic needs. The ongoing challenges include severe restrictions on the movement of goods and people, crippling productive capacities, and a pervasive sense of insecurity that stifles any potential for economic recovery.

West Bank Faces Record Economic Collapse

Parallel to Gaza's struggles, the West Bank is experiencing its sharpest economic contraction on record. UNCTAD attributes this severe downturn to a combination of factors, including intensified movement restrictions, which critically hinder trade and daily life, as well as a pervasive climate of insecurity. The continuous loss of productive capacity further exacerbates the crisis, leading to widespread unemployment and economic stagnation. Businesses are struggling to operate, and the livelihoods of many are under severe threat.

A Decades-Long Reversal of Progress

UNCTAD's analysis paints a grim picture, asserting that the current economic crisis has wiped out nearly seven decades of human development gains across the Palestinian territories. This reversal is a direct consequence of prolonged occupation, conflict, and restrictive policies that have systematically undermined economic growth and social progress. The report emphasizes the urgent need for a fundamental shift in policies to allow for sustainable development and alleviate the suffering of the Palestinian people. The international community is called upon to address the root causes of this unprecedented economic and humanitarian catastrophe.