World Bank: Palestinian economy facing unprecedented crisis

The war in the Gaza Strip, which erupted after Hamas attacked Israel on October 7, 2023, has led to an “unprecedented transformation in modern history” of the Palestinian economy, which has been devastated by Israeli attacks, according to the World Bank.

The latest report issued by the World Bank revealed that the gross domestic product of the Gaza Strip collapsed by 86% by the end of the first half of 2024 compared to the same period in the previous year, while the GDP of the occupied West Bank fell by 26%, as reported by Agence France-Presse.