Palestinian poverty rate will double due to Israel's war on Gaza: UN

The poverty rate in the occupied Palestinian territory is expected to nearly double to 74.3 per cent this year following months the Israeli war on Gaza which has reduced much of the besiged Strip to rubble, according to a UN Development Programme (Undp) report.

“Projections in this new assessment confirm that amidst the immediate suffering and horrific loss of life, a serious development crisis is also unfolding—one that jeopardizes the future of Palestinians for generations to come,” said Undp administrator Achim Steiner.

The report highlights that despite ongoing humanitarian aid, the Palestinian economy may not recover to pre-crisis levels for at least a decade.

Steiner emphasized the need for an early recovery strategy embedded in the humanitarian phase to ensure long-term sustainability.

At the end of 2023, the poverty rate stood at 38.8 per cent, but an additional 2.61 million Palestinians have fallen into poverty this year, bringing the total to 4.1 million. Unemployment is also projected to rise to 49.9 per cent, and GDP is estimated to be 35.1 per cent lower than it would have been without the Gaza conflict.

Steiner reiterated that even with consistent humanitarian support, economic recovery will likely take more than a decade.