Minister of Economy, Muhammad Al-Amour, stated that the Palestinian economy is facing a shock and is losing about 20 million dollars daily as a result of the complete cessation of production in the Gaza Strip, and its partial cessation in the West Bank.

Minister Al-Amour said, ‘The Palestinian economy is facing an unprecedented, complex economic shock, as a result of the repercussions of the Israeli aggression, which disrupted all the engines of the economy.’

He added, “It is expected that by the end of this year, our economy will record a contraction of 10%, and every day we lose about 20 million dollars as a result of the complete cessation of production in the Gaza Strip and its partial cessation in the West Bank.”

He pointed out that “the economic life cycle was disrupted as a result of the decline in cash flow due to the Israeli piracy of tax dues, and the loss of nearly half a million jobs since last October.”

Al-Amour explained, saying, ‘Unemployment rose to 32% in the West Bank, and 75% in the Ga
za Strip.’

Since October 7, the Israeli army has continued its devastating war on the Gaza Strip and targeting civilians, which has left tens of thousands martyred and wounded and a health and humanitarian crisis

Source: Maan News Agency