The United Nations Office at Geneva
Multimedia Newsroom
Press Conferences , Edited News | UNCTAD
UNCTAD Press Conference: Developments in the Economy of the OPT Report - 12 September 2024
Palestinian economy “in freefall” amid ongoing Gaza conflict - UNCTAD
Gaza’s economy has “collapsed months ago” while in the West Bank, violence and trade restrictions are fueling a massive surge in poverty and unemployment, UN Trade and Development (UNCTAD) warned on Thursday.
The war-torn enclave’s economy has shrunk to less than a sixth of its 2022 level, while up to 96 per cent of its agricultural assets and 82 per cent of all its businesses have been destroyed, according to UNCTAD’s latest report.
“The Palestinian economy is in freefall,” UNCTAD deputy chief Pedro Manuel Moreno told journalists in Geneva. “The report calls for the international community to halt this economic freefall, address the humanitarian crisis and lay the groundwork for lasting peace and development.”
Mr. Moreno insisted on the need for a “comprehensive recovery plan” for the occupied Palestinian territory, as well as increased international aid, the release of withheld Palestinian revenues withheld by Israel and an end to the blockade on Gaza.
According to UNCTAD, in addition to “unprecedented loss of life” and displacement, the combined impact of Israel’s military operation in Gaza that followed the attacks of 7 October 2023 by Palestinian armed groups in southern Israel, and the conflict’s repercussions in the West Bank “delivered an unparalleled shock that overwhelmed the Palestinian economy across the occupied Territory”.
The Palestinian agricultural sector shrunk by 11 per cent in the last quarter of 2023, which is “especially worrisome” given the sector’s importance in terms of jobs, exports and food security, said Mutasim Elagraa, coordinator of UNCTAD’s programme of assistance to the Palestinian people.
“The agricultural sector is a shock absorber - whenever there's a crisis and Palestinian workers lose their jobs, whether in the domestic economy or with their work in Israel and settlements, they go back to agriculture temporarily, and there they can produce some income,” he explained.
UNCTAD stressed that in the West Bank, settlement expansion and increased settler violence, land confiscations and demolition of Palestinian structures are driving population displacement and record unemployment, with over 300,000 jobs lost since the beginning of the conflict in Gaza.
“It's the highest unemployment recorded for the West Bank,” said UNCTAD economist Rami Alazzeh “Even in the peak of the second Intifada, the highest we've seen is 28 per cent. In the first quarter of 2024, unemployment reached 35 per cent” – almost triple what it was prior to October 2023.
In Gaza, the situation is even more “extreme” UNCTAD said, with two thirds of pre-war jobs lost by January 2024 and the entire population of the enclave dependent on international aid.
“What's left in Gaza is basically the humanitarian support… the humanitarian aid workers, local UN staff, doctors, nurses, that's it,” Mr. Alazzeh said. “The economy basically collapsed months ago.”
Asked about prospects for an economic recovery once the guns are silenced, UNCTAD’s Mr. Elagraa warned that “if we want to return Gaza to pre-October 2023, we need tens of billions of dollars, or even more, and decades.”
-Ends-
Story: UNCTAD Palestine Report – 12 September 2024
TRT: 03’36”
SOURCE: UNTV CH
LANGUAGE: ENGLISH / NATS
ASPECT RATIO: 16:9
DATELINE: 12 September 2024 - GENEVA, SWITZERLAND
SHOTLIST
- Wide shot of the press conference room with speakers on the podium.
- SOUNDBITE (English) Pedro Manuel Moreno, Deputy Secretary-General, UN Trade and Development (UNCTAD): “The Palestinian economy is in freefall. The report calls for the international community to halt this economic freefall, address the humanitarian crisis and lay the groundwork for lasting peace and development. This includes considering a comprehensive recovery plan for the occupied Palestinian territory, increased international aid and support, release of withheld revenues and lifting the blockade on Gaza.”
- Medium shot: Press room with journalists and control room at the back.
- SOUNDBITE (English) Mutasim Elagraa, Coordinator, UN Trade and Development (UNCTAD) Assistance to the Palestinian People: “The Palestinian agricultural sector in the last quarter of 2023 shrunk by 11 per cent, and that is especially worrisome because the agricultural sector provides a decent chunk of employment, and it produces income. It produces exports. It contributes to food security, and in Palestine it plays another special role. The agricultural sector is a shock absorber - whenever there's a crisis and Palestinian workers lose their jobs, whether in the domestic economy or with their work in Israel and settlements, they go back to agriculture temporarily, and there they can produce some income.”
- Close shot: Journalist in the Press room.
- SOUNDBITE (English) Rami Alazzeh, Economist, UN Trade and Development (UNCTAD): “Just to give you a comparison: in the peak of the second Intifada, in 2000 to 2002, the Palestinian economy lost 33 per cent of its value. And now we're seeing this drop over one year. Basically, it's the highest unemployment recorded for the West Bank. Even in the peak of the second Intifada, the highest we've seen is 28 per cent. In the first quarter of 2024, unemployment reached 35 per cent. So we're talking about almost triple what it was prior to October 2023.”
- Medium shot: Speakers at the podium in the Press room.
- SOUNDBITE (English) Mutasim Elagraa, Coordinator, UN Trade and Development (UNCTAD) Assistance to the Palestinian People: “The problem is general. It's in Gaza, in the West Bank and in East Jerusalem. It's not just Gaza. Although in Gaza, it is really extreme. It will take decades and high tens of billions of dollars, if not even more, to rebuild Gaza and put it back like where it was before October 2023. So if we want to return Gaza to pre-October 2023, we need tens of billions of dollars, or even more, and decades.”
- Medium shot: Speakers at the podium.
- SOUNDBITE (English) Rami Alazzeh, Economist, UN Trade and Development (UNCTAD): “What's left in Gaza is basically the humanitarian support. There's not much left in Gaza and when you say two thirds of the jobs were lost, already Gaza's unemployment before October 2023 was 45 per cent. So what's left in Gaza now is just the humanitarian aid workers, local UN staff, doctors, nurses. That's it. The economy basically collapsed months ago. So this is what's left in Gaza functioning now.”
- Medium shot: Journalist in the press room.
Similar Stories
3
1
Edited News | UNITED NATIONS , OCHA , UNHCR
Ukraine enters fifth year of war: Attacks and displacement deepen human suffering amid mounting recovery challenges
On the fourth anniversary of Russia’s full-scale invasion of Ukraine, UN officials took stock of the immense human and economic toll of the conflict while appealing to the world to “never get used to war.”
1
1
1
Press Conferences | OCHA , UNHCR , UNICEF , UNOG
Alessandra Vellucci, Director of the United Nations Information Service in Geneva, chaired a hybrid press briefing, which was attended by Matthias Schmale, Assistant Secretary-General, Resident and Humanitarian Coordinator in Ukraine (from Kyiv); Philippe Leclerc, UNHCR’s Regional Director for Europe and Refugee Regional Coordinator for Ukraine and Jonathan Crickx, UNICEF Chief of Communication in the State of Palestine (from Jerusalem)
27
1
Press Conferences , Images | PGA , UNOG
Human Rights Council and priorities for the remainder of the 80th Session of the UN General Assembly (UNGA), including the UN80 reform initiative, the selection and appointment process of the next UN Secretary-General, and defending the UN Charter. Palais des Nations, Geneva, Switzerland - 24 February 2026
2
27
2
2
Edited News , Press Conferences , Images | General Assembly , UNITED NATIONS
The full-scale invasion of Ukraine by Russian troops on 24 February 2022 shattered the peaceful aspirations of an entire continent, but war must never be the new normal, UN General Assembly President Annalena Baerbock said on Tuesday.
1
48
1
1
Edited News | UNOG
A ceremony marking the completion of the construction of the Portail des Nations, a soon-to-open visitors centre for the UN in Geneva, was held today for diplomats from around the world who have gathered in the Swiss city for the opening session of the Human Rights Council.
1
1
1
Edited News | OHCHR , UNOG
UN Human Rights Chief Volker Türk on Monday delivered his opening remarks to the 61str session of the Human Rights Council in Geneva.
1
10
1
1
Edited News | HRC , SG
In Geneva, delegates from more than 120 countries gathered on Monday to mark 20 years of the UN Human Rights Council and a shared commitment to international law, amid runaway global instability and conflict, amid runaway global instability and conflict.
1
1
1
Edited News | OHCHR , UNOG
The UN Human Rights Office has published a report on the grave human rights abuses suffered by the hundreds of thousands of people trafficked into scam operations mostly in southeast Asia.
1
1
1
Edited News | OHCHR , UNOG
UN Human Rights Spokesperson Marta Hurtado briefed journalists on a UN report detailing child trafficking by gangs and how it is putting Haiti’s future at risk.
1
1
1
Edited News | WHO , IFRC , UN WOMEN
Ukraine’s women at breaking point after four years of war as attacks on energy, healthcare continue – UN humanitarians
Four years into Russia’s full-scale invasion, millions in Ukraine struggle to keep the lights on and heat their homes, with the crisis taking a particular toll on women, humanitarians warned on Friday.
1
1
1
Press Conferences | IFRC , OHCHR , UN WOMEN , UNICEF , WFP , WHO
Alessandra Vellucci, Director of the United Nations Information Service in Geneva, chaired a hybrid press briefing, which was attended by the spokespersons and representatives of UN Women, the Office of the High Commissioner for Human Rights, the World Health Organization, the United Nations Children’s Fund, the World Food Programme, and the International Federation of Red Cross and Red Crescent Societies.
1
1
1
Press Conferences | HRC
HRC Investigative Bodies press conference - Launch of a report of the Independent International Fact-Finding Mission for the Sudan