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The Israel-Hamas war’s economic toll on Gaza

Posted on AllSides October 25th, 2023
From The Left

The Palestinian economy — encompassing both the occupied West Bank and Gaza — was expected to grow by 3% this year. Then the Oct. 7 terrorist attack by Hamas happened.

Now, Palestinian GDP is likely to shrink by 3% in 2023, with per-capita income falling by 5%, per estimates from the Palestinian Central Bureau of Statistics.

The big picture: Even before the current conflict, more than half of the people in Gaza lived in poverty, and 60% suffered from food insecurity. The combination of war and recession will only exacerbate Gaza's humanitarian crisis.

Where it stands: Per-capita income in Gaza...

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