The United Nations Development Programme (UNDP) warned of total economic collapse and a "developmental emergency" in Gaza Strip, reversing progress by nearly seven decades, in addition to the ongoing humanitarian crisis, revealed a report on Tuesday. The report released in conjunction with the United Nations Economic and Social Commission for Western Asia (ESCWA) warned that the economic toll is severe with the GDP of the state of Palestine projected to shrink by 35 percent by the end of 2024 down to USD 13.1 billion from a pre-war estimate of USD 20.2 billion. According to the report, the unemployment rate in Gaza has soared to 80 percent and across Palestine nearly one in two people are now without a job. Poverty rates have risen sharply with three out of four Palestinians expected to live below the poverty line by 2024 affecting over 4.1 million people among them 2.61 million have fallen into poverty for the first time. The report also highlighted a significant regression in living standards with the H uman Development Index (HDI) in Palestine set back by 24 years and a loss of 69 years of development in Gaza plunging back to levels recorded in 1955. In the same vein the Deputy Special Representative at the UNDP Programme of Assistance to the Palestinian People, Chitose Noguchi, stated that recovery is still possible but requires more than just humanitarian aid, and called for large-scale multi-sectoral recovery interventions to restore livelihoods and rebuild destroyed infrastructure. She said that Palestine's economy would still struggle to regain pre-war levels without additional investments aimed at long-term development, adding that recovery efforts must be bolstered by lifting current restrictions on the Palestinian economy including movement restrictions on workers and the withholding of clearance revenues by the Palestinian Authority. She also emphasized that the situation in Gaza mirrors the broader challenges facing the Arab region. Although the region is home to less than six percent of the g lobal population it accounts for 31 percent of the world's conflicts and is the origin of 10 percent of the world's refugees. Noguchi stressed the importance of addressing both immediate humanitarian needs and long-term developmental recovery in crisis-affected areas like Gaza, Lebanon and Syria adding that without strategic investments in development the future of millions remains uncertain. Source: Kuwait News Agency
