Rebuilding human-made abyss' in Gaza will cost at least $70bn, UN says

"Israel's war in Gaza has created a human-made abyss, and reconstruction is likely to cost more than $70bn (53bn) over several decades, the United Nations has said. The UN's trade and development agency (Unctad) said in a report that Israel's military operations had significantly undermined every pillar of survival and that the entire population of 2.3 million people faced extreme, multidimensional impoverishment."

"The report said Gaza's economy had contracted by 87% over the course of 2023-2024, leaving its gross domestic product (GDP) per capita at just $161, among the lowest globally. The report also found that violence, accelerated settlement expansion and restrictions on worker mobility hd decimated the economy in the West Bank. Plummeting revenues and the withholding of fiscal transfers by the Israeli government have severely constrained the Palestinian government's ability to maintain essential public services and invest in recovery, it said."

Israel’s military operations have undermined every pillar of survival in Gaza, leaving the entire population of 2.3 million facing extreme, multidimensional impoverishment. Gaza’s economy contracted by 87% in 2023–24, reducing GDP per capita to $161. The West Bank economy was decimated by violence, accelerated settlement expansion and mobility restrictions. Plummeting revenues and withheld fiscal transfers have severely constrained the Palestinian government's ability to provide essential public services and invest in recovery. Massive spending is required to rebuild infrastructure and address environmental and socioeconomic crises. Palestinian GDP returned to 2010 levels and per capita income to 2003 levels, erasing decades of progress; recovery could take decades even with substantial aid.

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