RAMALLAH, Wednesday, April 3, 2024 (WAFA) - The New Minister of National Economy, Mohammed al-Amour, in a statement, stressed that the joint report that was released yesterday by the World Bank and the United Nations on the cost of damage to critical infrastructure as a result of the Israeli aggression on Gaza is a new international document added to the occupation’s record of systematic destruction of the viability of the national economy.
According to the joint Interim Damage Assessment report, the cost of damage to critical infrastructure in Gaza is estimated at around $18.5 billion. That is equivalent to 97% of the combined GDP of the West Bank and Gaza in 2022.
The joint report finds that damage to structures affects every sector of the economy.
The Minister called on international institutions to immediately put this report into action by condemning and holding the occupying state, Israel, accountable for its genocide and systematic destruction of all aspects of life and obligating it to immediately stop the crimes of its aggression.
The Minister stressed that the estimated cost of damage, losses and needs is significantly higher than the estimated cost of the interim assessment of actual damages released by the World Bank and the United Nations, pointing out that the repercussions of the aggression caused a decline in the gross domestic product (GDP) last year by 6%.
According to the Ministry of National Economy, 29% of economic establishments operating in the West Bank have been completely or partially closed as a result of the occupation’s arbitrary measures, including the repeated incursions into cities, the destruction of infrastructure and the impositions of restrictions on the free movement of individuals and goods.
Since the onset of the Israeli aggression, the value of the daily losses in Palestine as a result of the almost total halt of the production process in the Gaza Strip and its repercussions on the West Bank is estimated at $25 million, excluding the direct losses in property and assets.
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