Palestine Economic Update
Palestine Economic Update - December 2024
author: Palestine Economic Policy Research Institute - MAS
year: 2024
Key Messages :
- A decrease of about 55% in the local production of the private and civil society sectors, combined with an unprecedented fall in employment across all economic sectors during 2024.
- In the Gaza Strip, 54% of industrial establishments have been destroyed. 67.6% of agricultural lands have been damaged, with huge financial losses and long-term environmental degradation threatening livelihoods and possibilities for recovery in the Gaza Strip.
- The Gaza Strip suffers from catastrophic humanitarian conditions as citizens endure yet another winter amidst severe shortage of basic life necessities and continued Israeli restrictions on the entry of goods and aid.
- Accumulation of arrears and a rise in government debt due to a sharp decline in public revenues and Israeli seizures and deductions from clearance revenues.