Gaza’s recovery needs reach $71.5bn amid ‘most severe economic crisis’: UN
Summary
The United Nations report says Gaza needs $71.5 billion to recover and rebuild after years of conflict and economic trouble. The report highlights that the economy in Gaza is facing its worst crisis ever, with huge damage to homes, jobs, and essential services.Key Facts
- Gaza’s recovery and rebuilding needs are estimated at $71.5 billion and may grow larger.
- Gaza's economy is in the "most severe crisis on record," largely due to long-term occupation and recent military conflict.
- Since the October 2023 war began, 92% of Gaza's businesses have been damaged or destroyed.
- Over 90% of Gaza's working-age population is unemployed.
- Gaza’s income per person dropped 83% in one year, to about 58 cents a day.
- Damage to Gaza’s infrastructure is estimated at $35.2 billion, with an additional $22.7 billion in economic and social losses.
- More than half of hospitals and clinics in Gaza are not working, and most farmland is unusable.
- Israel has withheld Palestinian government funds, worsening financial problems and threatening public services in both Gaza and the West Bank.
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