Gaza suffers ‘world’s most severe economic crisis on record’, UN says
Gaza suffers ‘world’s most severe economic crisis on record’, UN says Submitted by MEE staff on Fri, 09/25/2026 - 08:30 UNCTAD report says Israeli attacks have devastated Gaza’s economy, with $71.5bn needed for recovery and reconstruction An Israeli flag flutters in Gaza, as seen from the Israeli side of the border, 23 September 2026 (Amir Cohen/Reuters) Off The Gaza Strip has suffered the…
The United Nations has declared that Gaza is experiencing the world's most severe economic crisis on record, following three years of Israeli military operations. According to a UN Conference on Trade and Development (UNCTAD) report, over 90 percent of economic establishments in Gaza have been destroyed, and $71.5 billion is required for recovery and reconstruction.
The report also highlights that Gaza's GDP per capita has plummeted to $212, equivalent to $0.58 per person per day, making it the lowest economy tracked by the World Bank. Unemployment in Gaza stands at more than 90 percent, forcing the population into multidimensional poverty. The destruction of homes, agricultural sector collapse, and destruction of the health system have exacerbated the crisis.
The report warns that a viable, independent Palestinian state cannot be built on a collapsed economy. It further notes that the West Bank is being fragmented into "disconnected islands" by Israeli policies, hindering the development of an integrated Palestinian economy.
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