World Bank warns of ‘worrying’ outlook for Palestinian economy in West Bank, Gaza

The World Bank has warned of a “worrying” outlook for the Palestinian economy in the Israeli-occupied West Bank and Gaza Strip, in its latest update published this week. In “Palestine’s Economic Outlook – April 2018”, the World Bank reports that GDP in the occupied Palestinian territory (oPt) is expected to decrease by 2.5 per cent in 2018 from 2.7 per cent in 2017.
 
Assuming the “persistence of the Israeli restrictions” on freedom of movement, land usage and so on, as well as “the internal divide” between the West Bank and Gaza”, the World Bank says real GDP growth of the Palestinian economy is projected to decline to 2.3 per cent “over the next two years”. According to the World Bank, unemployment in the oPt “continued to be high” at 27 per cent in 2017, reaching 44 per cent in the Gaza Strip, compared to 18 per cent in the West Bank.
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