Economic crisis worsens in occupied Palestinian territories: UN report

China

Economic crisis worsens in occupied Palestinian territories: UN report

2024-09-13 16:17 Last Updated At：17:57

Gaza's economy has been in tatters for months, now having shrunk to less than a sixth of its 2022 level, while violence and trade restrictions are fueling a massive surge in poverty and unemployment in the West Bank, UN Trade and Development (UNCTAD) warned in its report released Thursday.

The report highlighted the staggering scale of economic devastation and unprecedented decline in economic activity, far surpassing the impact of all previous military confrontations in 2008, 2012, 2014, and 2021. Inflationary pressures combined with soaring unemployment and collapsing incomes have severely impoverished Palestinian households.

Deputy Secretary-General of UNCTAD Pedro Manuel Moreno said at a press briefing in Geneva on Thursday that the economy in Gaza is in free fall. Up to 96 percent of the war-torn enclave's agricultural assets and 82 percent of all its businesses have been destroyed, according to UNCTAD's latest report.

Gaza's GDP has dropped by an alarming 82 percent in the last quarter of 2023 alone. This has led to a 22 percent contraction in GDP for the entire year, Moreno said.

Commerce has also taken a major downturn in the West Bank and East Jerusalem, where settlement expansions, violence and the demolition of buildings have led to businesses halting operations and skyrocketing unemployment levels, according to the report.

A total of 306,000 jobs have been lost in the West Bank, pushing the territory's unemployment rates from 12.9 percent before the conflict to 32 percent.

The situation in Gaza is particularly dire, with two-thirds of pre-war jobs lost by January 2024, the report said.

UNCTAD stressed in the report that prolonged occupation is a primary economic obstacle to sustainable development due to ongoing restrictions on investment, labor mobility, and trade.

In addition to the damage caused by the conflict, the decline of international aid and Israel's continued withholding of tax revenue for the Palestinians have worsened the Palestinian economic situation.

"The report calls for the international community to halt this economic free fall, address the humanitarian crisis, and lay the ground work for lasting peace and development. This includes considering a comprehensive recovering plan for the occupied Palestinian territory, increased international aid and support, release of withheld revenues and lifting the blockade on Gaza," Moreno said.

CMG reporter says internet shutdown following deadly pager blasts in Lebanon

2024-09-18 05:10 Last Updated At：07:17

Multiple handheld pager explosions struck Beirut and the southeastern and northeastern regions of Lebanon on Tuesday, leading to a temporary internet shutdown in the southern suburbs of the capital city, according to China Media Group (CMG) reporter Ci Xiaoning.

"I am currently at the entrance of a major hospital in Beirut, Lebanon's capital. Around 15:30 today, there were several explosions in the southern suburbs of Beirut. My Lebanese colleague, who lives very close to the area, experienced an immediate loss of internet connectivity. Reports have since confirmed that many handheld pagers were involved in the explosions," Ci reported outside a hospital in Beruit.

Lebanese Health Minister Firas Abiad confirmed that the explosions resulted in at least nine deaths and about 2,800 injuries, with approximately 200 people in critical condition. The injured are being transferred to hospitals.

In a statement, Hezbollah said it is conducting security and scientific investigations to identify the reasons behind these explosions, adding that the group is "at the highest level of readiness to defend Lebanon and its people."

In a separate statement, the Shiite group blamed Israel for "this criminal attack," vowing to retaliate.

The Lebanese Council of Ministers stressed that the government, shortly after the deadly explosions, began contacting the concerned countries and the United Nations to hold the perpetrators accountable.

Israel has yet to comment on Tuesday's blasts. According to media reports, Israeli Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant held a security assessment meeting at the HaKirya military base in Tel Aviv on Tuesday to address the implications of the explosions.