April 22, 2024
World Economy

Palestine Economy Has Been Devastated by War, World Bank Says

The Palestinian economy, hobbled for years by Israeli occupation in the West Bank and the near-closure of the Gaza Strip’s borders with both Israel and Egypt, has suffered a devastating blow from Israel’s war against Hamas, the World Bank says in a new report.

The study says that since the start of the conflict on Oct. 7, “the Palestinian economy experienced one of largest shocks recorded in recent economic history.”

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