Gaza’s once-growing economy is nearing total collapse
GAZA is going through one of the most severe economic collapses the world has seen in modern times. According to a UN report published in late November, the average income per person there is now just US$161 (£122) a year. Before 2007, when Israel imposed a blockade of Gaza after Hamas won elections and took control of the enclave, it was close to US$2,000. This income drop has happened slowly over many years. But since the war between Israel and Hamas began in October 2023, Gaza’s economy has fallen apart at a rapid pace. The UN report suggests that in…
