Gaza’s economy experienced an 83% decline in 2024, pushing all 2.3 million residents into poverty. This followed months of bombardment in military actions carried out by Israel, which have been termed genocide by the United Nations Commission of Inquiry.
This economic devastation, coupled with widespread structural damage and a severe fiscal crisis, has erased decades of development and left the region facing an unprecedented humanitarian challenge.
Gaza’s GDP fell to just $362 million in 2024, with cumulative losses across 2023 and
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