The economy of the Gaza Strip has shrunk to less than a sixth of its size when the Israel-Hamas war began nearly a year ago, while unemployment in the occupied West Bank has nearly tripled, a U.N. report said Thursday, underscoring the challenges of reconstruction.
The report by the United Nations Conference on Trade and Development (UNCTAD) described Gaza's economy as "in ruins" more than 11 months after Israel launched a military campaign there that has reduced much of the territory to rubble in response to the deadly Oct. 7 attacks on southern Israel by Hamas militants.
The U.N. trade body said the Palestinian Authority (PA), which exercises limited self-rule under Israeli occupation in the West Bank, is under "immense pressure" that is jeopardizing its ability to function.
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