Palestine Economic Update
Palestine Economic Update - October 2024
author: Palestine Economic Policy Research Institute - MAS
year: 2024
- As Israel’s war on Gaza enters its second year, Palestinians face escalating humanitarian and economic crises, with national output shrinking by nearly a third and over half the labour force unemployed, excluding discouraged workers who have exited the workforce.
- Gaza’s suffering is staggering. Israel has killed tens of thousands and inflicted widespread destruction, leaving the Gaza Strip in ruins. Gaza’s economy has been decimated, and nearly all Gazans live in poverty, enduring intensified bombardment, displacement, and rising threats of starvation, particularly in the northern region.
- An uncertain continuation of Palestinian-Israeli correspondence banking threatens severe disruptions in trade, essential services, and fiscal revenues in the West Bank, potentially leading to economic collapse.
- Despite a drop in company registrations amid the ongoing conflict, the new Automated Business Registry System (ABRS) is expected to streamline the process and reduce registration costs.
- The EBRD’s $3 million investment in Ibtikar Fund II, its first in a Palestinian venture capital fund, aims to support digital transformation and strengthen the tech startup ecosystem.
