GAZA, May 31, 2015 (WAFA) – The
latest World Bank economic update said that Gaza’s unemployment rate – at 43.9%
– is now the highest in the world, stressing that Israel’s blockade on the
strip caused a 50% decrease of Gaza’s Gross Domestic Product (GDP).
UNRWA, in a press release,
reported on the World Bank as stating the average of youth unemployment in Gaza
rose to more than 60% by the end of 2014.
The report was presented to the
Ad Hoc Liaison Committee (AHLC), a principal policy-level coordination
mechanism for development assistance to the Palestinian people, at the
bi-annual meeting in Brussels on May 27, 2015.
According to the report, Gaza’s
GDP would have been about four times higher than it currently is if it weren’t
for the conflicts and multiple restrictions. It also considers that the Israeli
imposed blockade, in place since 2007, has resulted in a 50 percent decrease of
Gaza’s GDP.
The report further states that
in 2014 the average monthly salary in Gaza amounted to $174; with a poverty rate
of 39 percent, an 11 percent increase from 2013.
Real per capita income –
approximately $970.3 in 2014 – is 31% lower than it was 20 years ago, while the
population has at the same time increased by 230%, it said.
The World Bank also estimated
that the Israeli aggression in 2014 have resulted in a $460 million decrease of
the Strip’s output; the massive destruction has led to losses close to US$ 4.4
billion.
The report also highlights that
Gaza's population suffers from poor access to social services and underlines
the alarming quality of basic public services such as electricity, water, and
sewerage.
Nearly 80% of the population
receives social assistance, and nearly 40% of them still fall below the poverty
line, according to the World Bank.
M.N/T.R.
