Gaza suffers ‘world’s most severe economic crisis on record’, UN says
Unctad report says Israeli attacks have devastated Gaza’s economy, with $71.5bn needed for recovery and reconstruction An Israeli flag flutters in Gaza, as seen from the Israeli side of the border, 23 September 2026 (Amir Cohen/Reuters) MEE staff The Gaza Strip has suffered the world’s most severe economic crisis on record following three years of Israeli genocide, according to a UN report. The report, published on Thursday by the UN Conference on Trade and Development (UNCTAD), said intense military operations had destroyed more than 90 percent of economic establishments and displaced the entire Palestinian population in Gaza. It estimated that $71.5bn would be needed for recovery and reconstruction. “Gaza has experienced the world’s most severe economic crisis on record,” the report said. “Once a permanent ceasefire is secured, the international community should immediately mobilize large-scale financial and technical support, to rebuild Palestinian productive capacities,” it added. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters “A viable, sovereign, independent Palestinian State, as called for in United Nations resolutions, is a precondition for regional and global peace. Yet it cannot be built on a collapsed economy.” The report said the Palestinian economy had been systematically stunted by decades of “de-development” under Israeli occupation. It said Israel had imposed structural constraints on it since the occupation began in 1967. 'The destruction of public and private assets and the denial of livelihoods foster a coercive environment that forces Palestinians...
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