IMF: Negative growth of the economy in the West Bank and Gaza and an expected contraction in 2024. The IMF expects the war in Gaza to continue with high intensity during the first quarter of 2024.
“We expect the economy to continue to decline in 2024 if there is not a complete and rapid cessation of fighting and reconstruction,” said Jihad Azour, director of the Fund’s Middle East and Central Asia Department. The Fund added that if the conflict gradually declines, positive growth is expected to resume gradually as inflation declines.