The Palestinian Central Bureau of Statistics has said economic indicators for 2024 point to the collapse of Gaza’s economy and a sharp decline in productivity in the occupied West Bank due to the continuing war.

The bureau’s President Ola Awad was quoted by Wafa as saying estimates indicated an unprecedented sharp contraction of GDP in the Gaza Strip by more than 82 percent due to the collapse of all economic activities and an increase in the unemployment rate to 80 percent.

The West Bank economy also declined by more than 19 percent, with the unemployment rate rising to 35 percent.