Gaza's Devastating Economic Woes: A $70 Billion Price Tag for Rebuilding a Human-Made Abyss
The United Nations has warned that Israel's war in Gaza has created a "human-made abyss", with reconstruction efforts likely to cost at least $70 billion over several decades. The economic contraction in Gaza is staggering, with the GDP per capita plummeting to just $161, one of the lowest globally.
The report by UNCTAD reveals that the Israeli military operations have significantly undermined every pillar of survival, leaving the entire population of 2.3 million people facing "extreme, multidimensional impoverishment". The economy has contracted by an astonishing 87% over the past year, erasing decades of progress in less than two years.
The humanitarian crisis is dire, with conditions in Gaza making it difficult for residents to access basic necessities like food and cooking gas. Families are forced to rely on burning discarded plastic or other alternative fuels to cook, while diets are dominated by cereals, pulses, and moderate amounts of dairy and oil, with very limited meat, vegetables, and fruit.
The report also highlights the challenges of implementing Donald Trump's 20-point plan for Gaza, which calls for an interim technocratic Palestinian government in Gaza, overseen by an international "board of peace" and backed by an international security force. However, there is little clarity about how these requirements will be met, leaving many questions unanswered.
The war has had a devastating impact on the Gaza Strip, with over 69,000 Palestinians killed, mostly civilians, and thousands more left under the rubble. The fragile ceasefire that came into effect in October has held so far, but the challenges of rebuilding a shattered economy and addressing worsening environmental and socioeconomic crises are enormous.
Reconstruction efforts will require substantial aid, but even with this support, recovery to pre-October 2023 GDP levels could take decades. As the UN warns, Gaza's human-made abyss is a stark reminder of the devastating consequences of conflict and the need for sustained international support to rebuild and recover.
The United Nations has warned that Israel's war in Gaza has created a "human-made abyss", with reconstruction efforts likely to cost at least $70 billion over several decades. The economic contraction in Gaza is staggering, with the GDP per capita plummeting to just $161, one of the lowest globally.
The report by UNCTAD reveals that the Israeli military operations have significantly undermined every pillar of survival, leaving the entire population of 2.3 million people facing "extreme, multidimensional impoverishment". The economy has contracted by an astonishing 87% over the past year, erasing decades of progress in less than two years.
The humanitarian crisis is dire, with conditions in Gaza making it difficult for residents to access basic necessities like food and cooking gas. Families are forced to rely on burning discarded plastic or other alternative fuels to cook, while diets are dominated by cereals, pulses, and moderate amounts of dairy and oil, with very limited meat, vegetables, and fruit.
The report also highlights the challenges of implementing Donald Trump's 20-point plan for Gaza, which calls for an interim technocratic Palestinian government in Gaza, overseen by an international "board of peace" and backed by an international security force. However, there is little clarity about how these requirements will be met, leaving many questions unanswered.
The war has had a devastating impact on the Gaza Strip, with over 69,000 Palestinians killed, mostly civilians, and thousands more left under the rubble. The fragile ceasefire that came into effect in October has held so far, but the challenges of rebuilding a shattered economy and addressing worsening environmental and socioeconomic crises are enormous.
Reconstruction efforts will require substantial aid, but even with this support, recovery to pre-October 2023 GDP levels could take decades. As the UN warns, Gaza's human-made abyss is a stark reminder of the devastating consequences of conflict and the need for sustained international support to rebuild and recover.
$70 billion is like, totally crazy, right? I mean, who needs that much cash just because of some 'conflict' 
anyway... it's not like the people of Gaza haven't already been through hell. Like, can you even imagine living in a place where the economy contracts by 87% overnight? It's not exactly a recipe for financial stability 
. And don't even get me started on the 'interim technocratic government' thing... sounds like just another fancy way of saying 'international babysitters' 
. I mean, what even is that supposed to do? Provide a blueprint for Gaza's future or just make everyone feel more uncomfortable about their own powerlessness? 
$70 billion is a huge price tag but it's still just numbers 
We gotta think about the people 
2.3 million in Gaza are struggling big time 
their lives are so hard right now 
no heat, no food, no water 
it's like living in a nightmare 
and it's not just physical buildings 
but also people's hopes and dreams 
We need to help them rebuild 
their economy, their lives, their future 
it won't be easy 
by these numbers... $161 as GDP per capita?! How are we even measuring that in a war zone? And 87% economic contraction over one year? That's like, what even is happening? 
and the fact that they have to rely on burning plastic to cook is just shocking 
. Can you imagine??!? The war has caused so much destruction and trauma 
. It's going to take time and effort to rebuild, but we gotta try 
.
. The fact that GDP per capita dropped from something reasonable to $161 is a stark reminder of how quickly things can spiral out of control 
. And don't even get me started on the alternative fuels families have to use just to cook... burning plastic isn't exactly sustainable 
.
.
!
... I mean, $70 billion is just mind-boggling 
) and find sustainable solutions that promote peace, understanding, and economic growth 
?
I just can't help but think about all the innocent lives lost in that war 
. And $70 billion for rebuilding? That's a lot of money 
. It's all so... complicated. Can't we just get some aid and let them rebuild in peace? 
