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.
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