Palestine Economic Update
Palestine Economic Update - April 2024
author: Palestine Economic Policy Research Institute - MAS
year: 2024
Key Developments
- Direct damages to Gaza’s infrastructure in the first four months of the war estimated at $18.5 billion, set to rise as war spreads.
- Debris from the war is estimated at 37 million tons, requiring up to 14 years to remove, exacerbating reconstruction challenges.
- Over half of Gaza’s buildings are damaged or destroyed, with 60-70% of homes uninhabitable, triggering widespread displacement and overcrowding.
- Destruction of banking infrastructure intensifies cash scarcity, hindering access to salaries and humanitarian aid and leading to the emergence of exploitive alternatives.
- Mass job losses drive income depletion and economic hardship.
- Unemployment projected to hit 57% in Q1 2024. Ban on Palestinian workers in
- Israel exacerbates the socioeconomic crisis.
- Listed companies’ 2023 profits hit a 15-year low due to war-induced economic challenges.