Economic Monitoring Report to the Ad Hoc Liaison Committee
The Palestinian people face an increasingly uncertain political environment, and an economy that is failing to generate the jobs and incomes that are needed to improve living standards. Restrictions on trade and the access to resources, along with...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/509131493126715531/main-report http://hdl.handle.net/10986/26492 |
| Summary: | The Palestinian people face an
increasingly uncertain political environment, and an economy
that is failing to generate the jobs and incomes that are
needed to improve living standards. Restrictions on trade
and the access to resources, along with a decade long
blockade of Gaza have led to a continuing decline in the
productive base of the economy – with the share of Gross
Domestic Product (GDP) in manufacturing halved in the last
twenty-five years. Unemployment is now approaching 30
percent on average, with youth unemployment in Gaza twice as
high. Although 2016 witnessed an improvement from the
economic recession of 2014 -driven by a surge in
reconstruction activity in Gaza – this is not sustainable
nor sufficient to raise per capita incomes of the
Palestinians. Looking forward GDP growth is expected to
hover around 3.3 percent leading to a near stagnation in per
capita income. Further increases in unemployment are also expected. |
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