The Palestinian economy is in free fall and will require billions to rebuild, the UN says

Associated Press

GENEVA (AP) — The Palestinian economy is “in free fall,” with production in Gaza plunging to one-sixth of its level before Israeli forces began a blistering military response to the Oct. 7 attacks in the territory, the United Nations says. The report from UN Trade and Development also warned of “rapid and alarming economic decline” in the West Bank. It said expanded Israeli settlements, land confiscations, demolition of Palestinians buildings and violence by settlers have hurt its economy. The economic devastation comes on top of bloodshed linked to fighting since Israel began a military campaign in response to the Oct. 7 attacks.