Gaza's economy needs about 70 years to return to its levels

2024-02-12T13:33:34.347Z

Highlights: Gaza's economy needs about 70 years to return to its levels. The war caused the destruction of about 90% of economic facilities. The government in Gaza confirms that the initial direct losses exceeded 15 billion dollars. About 80% of the residents of the Gaza Strip depend on international aid. The United Nations confirms the Gaza economy will need 70 years for it to recover to its pre-war levels in 2022, if it is to survive the next 50 years of conflict with Israel. The U.N. estimates that the war will cost the Israeli government about $15 billion in direct losses.

The Israeli war on the Gaza Strip doubled the humanitarian and economic pain for the residents of the Strip, about 80% of whom depend on international aid.