UNCTAD "Gaza's economy takes 350 years to recover before war"

The United Nations Conference on Trade and Development, UNCTAD, predicted that it would take 350 years for the Palestinian Gaza economy to recover to pre-war levels.

UNCTAD submitted this report to the UN General Assembly last month and published it on its website.According to the

report, Gaza's GDP in the fourth quarter of last year was 80.8% lower than the previous quarter and 81.3% lower than the same period last year.

The war has cut Gaza's per capita GDP by more than half, and since October last year, infrastructure damage alone has reached $18.5 billion, seven times the GDP of Gaza in 2022.

In addition, the unemployment rate in Gaza soared to 81.7% in the first quarter of this year and forecasts that it could remain at that level or even worse as long as the war continues.

If Gaza grows as usual after the ceasefire is reached, it will take 350 years to recover 2022 levels of GDP, the report predicts.