A UN report warns that it could take 350 years for Gaza’s economy to recover to its pre-war level if the ongoing conflict with Israel ends immediately and conditions return to the status quo before Hamas’ attack on October 7, 2023, AP News reports.
The report indicates that the war has caused extensive destruction, with entire neighborhoods and infrastructure in ruins, which would make recovery a massive challenge and exceedingly slow. Gaza was already under a blockade by Israel and Egypt since Hamas took power in 2007, and suffering from the economic impact of previous conflicts and internal political divisions.
The report highlights that even in the most optimistic scenario, where growth rates could reach 10%, Gaza’s GDP per capita could recover to its 2022 level first by 2050. The report stresses that restoring Gaza’s economy depends on favorable conditions, including lifting economic restrictions and ending military operations.
However, Israel is unlikely to lift the blockade as long as Hamas remains in control of Gaza, and international donors are hesitant to fund rebuilding efforts without a resolution to the conflict.
