World Bank: Residents of the Gaza Strip suffer from 100% poverty and 250% inflation

WASHINGTON (Palestine Foundation Information Center) The World Bank said all the residents of the Gaza Strip suffer from poverty, which amounted to 100%, and an inflation that exceeded 250%, due to the consequences of the ongoing Israeli genocide war for almost a year now.

This came in a report issued on Thursday by the World Bank, with the title, “Palestinian Economic Modernization”, in which the Bank stressed that the war pushed Gaza’s economy to the brink of absolute collapse, with a shrinkage of 86% in the first quarter of 2024.

The World Bank pointed out that the prices of basic commodities in Gaza witnessed a significant increase in light of the severe shortage of cash liquidity, adding that the war in Gaza has led to the collapse of the educational system and severe damage to the agricultural sector and the health system in the Strip.