India, Nov. 26 -- The Occupied Palestinian Territory is now in its deepest economic crisis ever recorded, with Gaza suffering an "unprecedented and catastrophic" collapse, according to a new report from the UN Conference on Trade and Development (UNCTAD) presented in Geneva on Tuesday.

Speaking at the launch of UNCTAD's 2025 Report on the Economy of the Occupied Palestinian Territory, the agency's Deputy Secretary-General Pedro Manuel Moreno said decades of movement restrictions, combined with the latest military operations, had "wiped out decades of progress" and left both Gaza and the West Bank facing long-term devastation.

"What we see today is extremely worrying," he said. "Gaza is going through the fastest and most damaging economi...