The growth of the Gaza economy in 2019 is zero and fears are coming

Ali Al Hayek, President of the Palestinian Businessmen Association in the Gaza Strip, said today, Monday, that the Palestinian economy in the sector did not witness any positive and noticeable development during the year 2019 as a result of the continued Israeli blockade and the Palestinian division, and limited government interventions, aid and international grants.

Al Hayek warned in a press statement to him of the worse economic, humanitarian and social conditions in the year 2020 if the situation remains the same, and not to limit the worsening effects of crises, especially unemployment, poverty and food insecurity, and the state of paralysis experienced by the markets due to severe lack of cash liquidity, not to mention On the complete cessation of the productive sectors and factories in conjunction with the unprecedented shortage of raw materials and the prevention of exports and the failure to compensate their owners for their financial losses incurred during the years of the siege and wars.

"We are talking about a dire economic and financial reality in the year 2019, the rate of growth in most activities is zero, we have bounced checks about $ 1.158 billion, which is the highest level in the history of the Palestinian banking sector, and the private sector has witnessed the largest collapse in years where its operating capacity has decreased More than 15% due to the special circumstances in the Gaza Strip, compared to more than 80% before the start of the Israeli siege in 2006, only 10% of economic establishments worked normally, and there are more than 380 thousand unemployed, and 220 thousand Palestinian graduates without jobs, The private sector can no longer afford more economic crises In the current situation. "

Al-Hayek added, "Supporting industrial and commercial establishments that are completely and partially suspended is a top priority for their re-employment, which contributes to reducing the numbers of the unemployed and the poor." Stressing the necessity of activating international development programs and re-pumping funds to projects, as they are the most effective, with the importance of addressing the existing imbalance in the movement of capital turnover resulting from lack of cash liquidity, which led to the harm of hundreds of companies and businessmen, and pushing them to reduce expenses, lay off employees, and reduce wages some of them.

The President of the Businessmen Association pointed out that the recent UN report, which warned that the Gaza Strip will live in difficult conditions in terms of economic growth and access to safe drinking water and electricity, is a serious matter that requires urgent intervention from all local and international parties to prevent this, and take Measures to end this tragedy.

Al-Hayek demanded the need to lift the siege on Gaza, open all crossings, allow freedom of movement, travel, import and export, cancel the lists of prohibited goods and enable the industrial sector to carry out its activities without hindrance, and cancel the work of the International Reconstruction Mechanism known as “GRM,” because of the catastrophic consequences that led to the destruction The economy of Gaza, with the necessity of exempting the private sector for a period of time from taxes and regulations, and stopping from considering the private sector as an oil well and funded for the needs of governments.

He called on all Palestinian parties to show national responsibility to move towards Palestinian reconciliation in light of this delicate stage in the history of our people, and that it is an urgent priority for the time being to reconcile and move the Palestinian political and economic file, and to stop the road to plans aimed at finally separating Gaza from the West Bank, and to prevent the establishment of an independent Palestinian state. And its capital, Al-Quds Al-Sharif.


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