UN Report on the Collapse of the Palestinian Economy: War Has Driven 400,000 People into Poverty

The release of a new UN report indicates the "collapse of the economy" in the West Bank and Gaza Strip following a month of war between Israel and the Hamas militant group. The war in Gaza began after Hamas militants attacked Israel on October 6. According to the Associated Press, citing the UN report, the GDP in the West Bank and Gaza decreased by four percent during this period, plunging more than 400,000 people into poverty. The UN Development Programme and the UN Economic and Social Commission for Western Asia noted in their report that this level of economic impact has not been seen in the Syrian civil war, the Russian invasion of Ukraine, or previous conflicts between Israel and Hamas. The Associated Press reported that this was the first UN report assessing the rapid economic consequences of the Gaza war, published on Thursday, November 9, highlighting the devastating impact of this war, particularly on Palestinians. According to the report, if the war continues into its second month, the GDP of the Palestinian territories, which was $20.4 billion before the war, is expected to decrease by 8.4%, equivalent to a loss of $1.7 billion. The UN Development Programme and the UN Economic and Social Commission for Western Asia also stated that if the war continues into its third month, the GDP of the Palestinian territories will decrease by 12%, corresponding to a loss of $2.5 billion, resulting in more than 660,000 people being plunged into poverty. Speculations about governance in the Gaza Strip after the "destruction of Hamas": from Israel to Arab countries Netanyahu: Israel does not seek to occupy or govern Gaza Biden outlined the "humanitarian pauses" plan in Gaza.