UN reports unprecedented economic devastation in Gaza due to Israeli military campaign
Summary: The UN reports that Israel's military campaign in Gaza has caused "unparalleled destruction," pushing nearly all Palestinians into poverty. The economy may take 350 years to recover if a ceasefire occurs, with GDP dropping by over 81% in late 2023.
Since the conflict began, economic activity in Gaza has nearly ceased, except for limited humanitarian services. The UN highlights the severe impact of long-standing Israeli restrictions, estimating a loss of $35.8 billion in potential GDP since 2007.
The destruction includes significant damage to infrastructure, with 62% of residential buildings and 59% of water systems affected. A food security crisis is worsening, with high rates of malnutrition among infants and widespread acute food insecurity.
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