DaysofPal- The Gaza Strip is suffering from a severe and unprecedented economic crisis, with poverty rates surpassing 90 percent of the population, according to economic expert Ahmed Abu Qamar.
Speaking on the deteriorating conditions in the territory, Abu Qamar warned that Gaza has undergone a dangerous structural transformation, shifting poverty from a chronic issue to a widespread reality affecting nearly every household and displaced family as a result of the ongoing Israeli genocide and suffocating siege.
He noted that unemployment has surged beyond 80 percent, placing Gaza among the highest unemployment rates globally.
The local economy, he explained, has transitioned from a production-based system to one focused on mere survival, with more than 95 percent of families now relying on humanitarian aid to meet basic needs.
Abu Qamar further highlighted that Gaza’s gross domestic product has contracted by over 80 percent compared to pre-war levels, resulting in the collapse or severe disruption of most income-generating sectors.
These indicators, he said, reflect the emergence of compound poverty, which is a condition characterized by the simultaneous loss of employment, depletion of savings, lack of liquidity, and difficulty accessing essential resources such as food, clean water, and safe housing.
The situation has been exacerbated by the destruction of productive assets, the paralysis of markets, and the exhaustion of remaining household resources without any means of replenishment.
According to Abu Qamar, the loss of economic output and the fact that four out of five individuals have lost their jobs signal a structural collapse that will require years of recovery efforts to overcome.
He stressed that the challenge facing Gaza is no longer limited to humanitarian relief but extends to the urgent need for comprehensive economic reconstruction and the creation of sustainable employment opportunities to restore financial independence.
DaysofPal- The Gaza Strip is suffering from a severe and unprecedented economic crisis, with poverty rates surpassing 90 percent of the population, according to economic expert Ahmed Abu Qamar.
Speaking on the deteriorating conditions in the territory, Abu Qamar warned that Gaza has undergone a dangerous structural transformation, shifting poverty from a chronic issue to a widespread reality affecting nearly every household and displaced family as a result of the ongoing Israeli genocide and suffocating siege.
He noted that unemployment has surged beyond 80 percent, placing Gaza among the highest unemployment rates globally.
The local economy, he explained, has transitioned from a production-based system to one focused on mere survival, with more than 95 percent of families now relying on humanitarian aid to meet basic needs.
Abu Qamar further highlighted that Gaza’s gross domestic product has contracted by over 80 percent compared to pre-war levels, resulting in the collapse or severe disruption of most income-generating sectors.
These indicators, he said, reflect the emergence of compound poverty, which a condition characterized by the simultaneous loss of employment, depletion of savings, lack of liquidity, and difficulty accessing essential resources such as food, clean water, and safe housing.
The situation has been exacerbated by the destruction of productive assets, the paralysis of markets, and the exhaustion of remaining household resources without any means of replenishment.
According to Abu Qamar, the loss of economic output and the fact that four out of five individuals have lost their jobs signal a structural collapse that will require years of recovery efforts to overcome.
He stressed that the challenge facing Gaza is no longer limited to humanitarian relief, but extends to the urgent need for comprehensive economic reconstruction and the creation of sustainable employment opportunities to restore financial independence.
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