Palestinian pedestrians and a motorcyclist commute along a road between ruins of houses, which witnesses said were damaged or destroyed during the Israeli offensive, in Beit Hanoun town in the northern Gaza Strip September 7, 2014.REUTERS / Mohammed Salem
Reuters: Gaza's economy "on verge of collapse" says World Bank
* Gaza's economic output contracted 15 percent in 2014
* Unemployment the highest in the world
* World Bank warns of collapse, threat of disease
JERUSALEM, May 22 (Reuters) - Gaza's economy is in a worse state than any other in the world, with unemployment at a global high, output contracting sharply and the long-term prospects worrying, the World Bank said on Friday.
Repeated rounds of conflict, internal divisions and the embargo Israel and Egypt impose have left the territory "on the verge of collapse", the report said, with its 1.8 million population facing poverty and destitution despite vast aid.
"Blockades, war and poor governance have strangled Gaza's economy and the unemployment rate is now the highest in the world," said the report, drafted by Steen Lau Jorgensen, the World Bank's director for Gaza and the West Bank.
It is to be presented in Brussels on May 27.
Update #1: World Bank: Gaza's Economy on 'Verge of Collapse' -- VOA
Update #2: Gaza economy 'on verge of collapse' -- Newsweek
WNU Editor: Continuous war has consequences .... and until there is a political solution .... which is nowhere in sight and it will not happen with the current rulers in Gaza (and Israel) .... this misery is only going to continue.
11 comments:
Hamas should keep doing the same things, because like that worked to date.
If they go full Obama and double down on failure they can reach zero employment soon.
Aizino,
Unlike the West Bank, which is disappearing under new waves of Israeli settlers and settlements,
Gaza is free of Israeli Settlers, so Hamas must be doing something right.
So no Jews and soon to be zero employment. Where can I book a vacation to Gaza sounds affordable.
I agree Jay. Hamas has fully secured themselves and integrated them politically, economically and socially in to Gazan society. It is essentially impossible to expand settlements in Gaza, whereas the West Bank is freely settled upon. Hamas's military wing is easily excited with any sign of Israeli encroachment, while the West Bank offers little resistance aside from unarmed protests. The leadership here is the big factor. Israeli blockades of Gaza are a big hinderance for Gazans however, and they can't even import concrete, food or medical supplies for rebuilding or sustenance because of Israeli military law. Israel does not function under a constitution and has never defined its borders as a nation state since 1948. With no defined borders, and no constitution impeding governance, Israel is free to conduct itself as it always has. I still can't believe they gave up the Sinai. Land for peace got Rabin assassinated by his own people. And the Sinai almost tripled the size of the Israeli state. If UNSCR 242 and 338 couldn't make Israel give back land, then the Sinai could have been theirs with impunity.
Sadly phill,
You can't. Israel and Egypt hardly ever let anyone into Gaza, or out.
The food and the beaches used to be amazing, but the food was seafood based and Israel doesn't allow the Gazan's to fish anymore,
And the beaches are subject to random IDF shelling, sniper attacks and naval gunfire. They are also polluted by the raw sewage, from the sewage treatment plants that Israel destroyed in 2008 and won't allow to be repaired or rebuilt.
Jay
I guess Cuba it is then.
phill,
Wait until after the next election, to see if the "thaw" is permanent.
You wouldn't want Homeland Security to see the " wrong" kinda stamp in your passport.
Jay
Can you'll elaborate?
Jay
Can you'll elaborate?
phill,
In the 50's, 60's and into the early '70's, having the wrong Countries stamp in you passport resulted in "harassment" at Customs, at the minimum. At the maximum, you could be listed, your career destroyed and be subject to constant FBI and Police intrusions in your life, or subjected to "creative" interpretation of the Laws, tried and jailed.
Lists are back, and the "thaw" towards Cuba, is political and might not last through the next election.
Jay .... I can identify on your "having the wrong country stamp" on your passport .... including the passport itself.
The thaw towards Cuba is interesting. U.S. commercial interests are lining up already, and many in the Cuban American community want it. Will the Republicans kill it? This deserves more thought.
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