Palestinian economy “in freefall” amid ongoing Gaza conflict – UNCTAD
Gaza’s economy has “collapsed months ago” while in the West Bank, violence and trade restrictions are fueling a massive surge in poverty and unemployment, UN Trade and Development (UNCTAD) warned on Thursday. The war-torn enclave’s economy has shrunk to less than a sixth of its 2022 level, while up to 96 per cent of its agricultural assets and 82 per cent of all its businesses have been destroyed, according to UNCTAD’s latest report. “The Palestinian economy is in freefall,” UNCTAD deputy chief Pedro Manuel Moreno told journalists in Geneva. “The report calls for the international community to halt this economic…