A Palestinian family at the Jabalia Refugee camp in Gaza in 2017

World Bank: Palestinian economy starting to rebound, but challenges loom

First half of 2021 sees growth reach 5.4% and is expected to rise to 6% by the end of the year, but official says progress depends on coordinated actions by all parties and job opportunities for the young

AFP, Ynet |
Published: 11.09.21, 10:52
The economy in the Palestinian Territories is showing “signs of recovery” but still faces serious challenges including “very high unemployment and deteriorating social conditions” in Gaza, the World Bank said Tuesday.
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  • In the first half of 2021, growth reached 5.4 percent, and is expected to reach 6% this year, the World Bank said in a report. However, growth in 2022 is predicted to slow to around 3%, it added.
    3 צפייה בגלריה
    A Palestinian family at the Jabalia Refugee camp in Gaza in 2017
    A Palestinian family at the Jabalia Refugee camp in Gaza in 2017
    A Palestinian family at the Jabalia Refugee camp in Gaza in 2017
    (Photo: AFP)
    “The way ahead is still uncertain,” said Kanthan Shankar, World Bank Country Director for the West Bank and Gaza, adding that progress “depends on coordinated actions by all parties in revitalizing the economy and providing job opportunities for the young population.”
    3 צפייה בגלריה
    ההרס בעזה לאחר הפסקת האש
    ההרס בעזה לאחר הפסקת האש
    A Gaza resident carries a rug pulled out of the rubble of a building bombed by Israel during the May fighting
    (Photo: AFP)
    Israel issued thousands of work permits for Gaza residents last month, "conditional upon the continued preservation of the region's security stability," the Israeli coordinator of government activities in the territories said.
    3 צפייה בגלריה
    מחכים להגשת הבקשה לאישור עבודה
    מחכים להגשת הבקשה לאישור עבודה
    Thousands of Gaza residents line up for permits to work in Israel, last month
    The Gaza Strip was hit hard during 11-days of devastating conflict with Israel in May, while the economy was also impacted by restrictions imposed to stem the spread of coronavirus.
    In Gaza, a Palestinian enclave of two million people controlled by the Islamist terror group Hamas, unemployment stands at 45%, while the poverty rate has risen to 59% from 43% five years ago.
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