Gaza Genocide · updated 1h ago · 2 min read
UNCTAD Says Israel’s Military Operations Destroyed 92% Of Gaza’s Economic Establishments
UNCTAD says 92% of Gaza’s economic facilities destroyed since Oct 2023 war Reconstruction and recovery costs projected at about $71.5 billion
Whether reconstruction is stalled or costs are foregrounded.
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Al Jazeera
“Gaza’s recovery and reconstruction needs have reached an estimated $71.5bn”Read the original ↗
The BBC emphasises stalled reconstruction and security obstacles, while Traders Union and Al Jazeera foreground UNCTAD cost and fiscal-damage details.
UN pegs needs at $71.5bn
UNCTAD told the UN General Assembly that Gaza’s recovery and reconstruction needs have reached an estimated $71.5bn and are likely to increase. UNCTAD said Israel’s “intense” military operations have damaged or destroyed 92 percent of economic establishments across Gaza since the war began. UNCTAD said unemployment has surged, with over 90 percent of Gaza’s working-age population unemployed, and it added that Gaza’s GDP per capita last year was $212, or $0.58 a day.
UNCTAD warned that “Systemic collapse is no longer a theoretical possibility,” saying banks may soon be unable to sustain essential trade flows including fuel, water and medicine. UNCTAD said housing accounts for the largest share of Gaza’s damage and reconstruction needs, while more than half of hospitals and clinics remain non-functional and less than 1.5 percent of cropland remains accessible and undamaged.
Recovery plan meets delays
Trump’s Board of Peace unveiled a $2.45bn Gaza recovery plan at a meeting on the sidelines of the UN General Assembly, with funding spread across 66 programmes over six months.
Jared Kushner told board members and stakeholders, “The goal of today was really just to show you that we're really fully committed to doing it,” as the plan faced fundraising gaps.
Steve Witkoff said, “All of the hostages are home. There is a ceasefire, imperfect as it may be, but it still exists,” while the board admitted substantial donations were still needed with $18bn pledged but only $280m handed over so far.
The BBC reported that the plan estimated full recovery and reconstruction will require about $71bn over the next decade, while it did not set out a date for the start of reconstruction in Gaza.B
The BBC said the disarmament of Hamas was a key sticking point, with the Palestinian group agreeing to give up its weapons in exchange for a phased Israeli troop withdrawal from the 60% of Gaza currently occupied.B
Finances strain and rebuilding risks
UNCTAD said Israel withheld clearance revenue transfers from May 2025 through mid-2026, and it said cumulative deductions and withheld revenues between 2019 and March 2026 exceeded $3.67bn. UNCTAD said the Palestinian Authority’s 2025 budget deficit reached 13 percent of GDP, with health-related arrears hitting $1.1bn by late 2025 and threatening hospitals and pharmaceutical suppliers. UNCTAD said resource shortages forced West Bank schools to limit in-person instruction to three days a week in 2025, while it also put public debt at $4.8bn and banking-sector exposure to the public sector at $5.3bn, or 42 percent of all bank lending.
UNCTAD said Gaza’s economy has experienced the world’s “most severe crisis on record,” and it linked the collapse to 59 years of Israeli occupation that it said imposed structural constraints that stunted the Palestinian economy. UNCTAD said the damage requires “large-scale international financial and technical assistance” to rebuild agriculture, industry, construction, energy and technology, and it called for transferring withheld Palestinian revenues, safeguarding the banking system, and aligning reconstruction support with the documented scale of damage as immediate priorities.