Hyderabad, Nov. 27 -- A new report by the UN Conference on Trade and Development (UNCTAD) warns that prolonged Israeli military operations and long-standing restrictions have pushed the economy of the Occupied Palestinian Territory into its worst downturn on record. The agency says decades of development gains have been reversed, worsening humanitarian and fiscal pressures.

According to the report, Developments in the Economy of the Occupied Palestinian Territory, two years of conflict have driven the Palestinian economy into one of the ten sharpest global contractions since 1960.

By the end of 2024:

GDP had fallen back to 2010 levels

GDP per capita returned to 2003 levels

Gaza's economy devastated

Gaza has experienced the steepest ...