جديد الاقتصاد الفلسطيني - كانون الثاني 2024

Key Development

In Q4 2023, Palestine’s GDP plunged by 33%, with the Gaza Strip and West Bank contracting by 80% and 22%, respectively. Unemployment surged to 46%, 74% in the Gaza Strip and 29% in the West Bank.
Forecasts predict at least 4.6-5% GDP contraction in 2024, following a challenging 6.2% decline in 2023.
The private sector faced significant setbacks, with an estimated $1.5bn production loss in October and November 2023.
Gaza grapples with severe food scarcity, with 59% facing emergency or famine conditions, expected to rise to 79% by February 2024. Agricultural value added plummeted by 93% in Q4 2023.
The tourism sector suffers $2.5M in daily losses, with widespread hotel closures and extensive booking cancellations until December 2024.
Israel’s approval to channel deducted PNA tax funds to Norway carries restrictions on fund disbursement.

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