Palestine will lose at least 12% of GDP if the hostilities in Gaza continue until the end of the year, the director of the UN Development Programme Regional Bureau for Arab States said.
If this fighting continues till the end of the second month, the loss will be more than 8% of GDP and if it continues till the end of the year, we are going to have a 12% loss in GDP," Abdallah Al Dardari told a briefing. "That’s massive and unprecedented."
On October 7, Palestinian group Hamas launched a surprise attack against Israel from Gaza, killing and abducting people in neighboring Israeli communities.
Israel retaliated by bombing the entire Gaza Strip, home to more than 2.5 million people, by land, sea and air, bombing homes, schools, hospitals and mosques with hundreds of thousands of tons of large bombs. In addition, the Jewish state has imposed a blockade on the Strip, cutting off supplies of water, food, medicine, electricity and fuel.