The United Nations Office at Geneva
Multimedia Newsroom
Press Conferences , Edited News | UNCTAD
UNCTAD Press Conference: Developments in the Economy of the OPT Report - 12 September 2024
Palestinian economy “in freefall” amid ongoing Gaza conflict - UNCTAD
Gaza’s economy has “collapsed months ago” while in the West Bank, violence and trade restrictions are fueling a massive surge in poverty and unemployment, UN Trade and Development (UNCTAD) warned on Thursday.
The war-torn enclave’s economy has shrunk to less than a sixth of its 2022 level, while up to 96 per cent of its agricultural assets and 82 per cent of all its businesses have been destroyed, according to UNCTAD’s latest report.
“The Palestinian economy is in freefall,” UNCTAD deputy chief Pedro Manuel Moreno told journalists in Geneva. “The report calls for the international community to halt this economic freefall, address the humanitarian crisis and lay the groundwork for lasting peace and development.”
Mr. Moreno insisted on the need for a “comprehensive recovery plan” for the occupied Palestinian territory, as well as increased international aid, the release of withheld Palestinian revenues withheld by Israel and an end to the blockade on Gaza.
According to UNCTAD, in addition to “unprecedented loss of life” and displacement, the combined impact of Israel’s military operation in Gaza that followed the attacks of 7 October 2023 by Palestinian armed groups in southern Israel, and the conflict’s repercussions in the West Bank “delivered an unparalleled shock that overwhelmed the Palestinian economy across the occupied Territory”.
The Palestinian agricultural sector shrunk by 11 per cent in the last quarter of 2023, which is “especially worrisome” given the sector’s importance in terms of jobs, exports and food security, said Mutasim Elagraa, coordinator of UNCTAD’s programme of assistance to the Palestinian people.
“The agricultural sector is a shock absorber - whenever there's a crisis and Palestinian workers lose their jobs, whether in the domestic economy or with their work in Israel and settlements, they go back to agriculture temporarily, and there they can produce some income,” he explained.
UNCTAD stressed that in the West Bank, settlement expansion and increased settler violence, land confiscations and demolition of Palestinian structures are driving population displacement and record unemployment, with over 300,000 jobs lost since the beginning of the conflict in Gaza.
“It's the highest unemployment recorded for the West Bank,” said UNCTAD economist Rami Alazzeh “Even in the peak of the second Intifada, the highest we've seen is 28 per cent. In the first quarter of 2024, unemployment reached 35 per cent” – almost triple what it was prior to October 2023.
In Gaza, the situation is even more “extreme” UNCTAD said, with two thirds of pre-war jobs lost by January 2024 and the entire population of the enclave dependent on international aid.
“What's left in Gaza is basically the humanitarian support… the humanitarian aid workers, local UN staff, doctors, nurses, that's it,” Mr. Alazzeh said. “The economy basically collapsed months ago.”
Asked about prospects for an economic recovery once the guns are silenced, UNCTAD’s Mr. Elagraa warned that “if we want to return Gaza to pre-October 2023, we need tens of billions of dollars, or even more, and decades.”
-Ends-
Story: UNCTAD Palestine Report – 12 September 2024
TRT: 03’36”
SOURCE: UNTV CH
LANGUAGE: ENGLISH / NATS
ASPECT RATIO: 16:9
DATELINE: 12 September 2024 - GENEVA, SWITZERLAND
SHOTLIST
- Wide shot of the press conference room with speakers on the podium.
- SOUNDBITE (English) Pedro Manuel Moreno, Deputy Secretary-General, UN Trade and Development (UNCTAD): “The Palestinian economy is in freefall. The report calls for the international community to halt this economic freefall, address the humanitarian crisis and lay the groundwork for lasting peace and development. This includes considering a comprehensive recovery plan for the occupied Palestinian territory, increased international aid and support, release of withheld revenues and lifting the blockade on Gaza.”
- Medium shot: Press room with journalists and control room at the back.
- SOUNDBITE (English) Mutasim Elagraa, Coordinator, UN Trade and Development (UNCTAD) Assistance to the Palestinian People: “The Palestinian agricultural sector in the last quarter of 2023 shrunk by 11 per cent, and that is especially worrisome because the agricultural sector provides a decent chunk of employment, and it produces income. It produces exports. It contributes to food security, and in Palestine it plays another special role. The agricultural sector is a shock absorber - whenever there's a crisis and Palestinian workers lose their jobs, whether in the domestic economy or with their work in Israel and settlements, they go back to agriculture temporarily, and there they can produce some income.”
- Close shot: Journalist in the Press room.
- SOUNDBITE (English) Rami Alazzeh, Economist, UN Trade and Development (UNCTAD): “Just to give you a comparison: in the peak of the second Intifada, in 2000 to 2002, the Palestinian economy lost 33 per cent of its value. And now we're seeing this drop over one year. Basically, it's the highest unemployment recorded for the West Bank. Even in the peak of the second Intifada, the highest we've seen is 28 per cent. In the first quarter of 2024, unemployment reached 35 per cent. So we're talking about almost triple what it was prior to October 2023.”
- Medium shot: Speakers at the podium in the Press room.
- SOUNDBITE (English) Mutasim Elagraa, Coordinator, UN Trade and Development (UNCTAD) Assistance to the Palestinian People: “The problem is general. It's in Gaza, in the West Bank and in East Jerusalem. It's not just Gaza. Although in Gaza, it is really extreme. It will take decades and high tens of billions of dollars, if not even more, to rebuild Gaza and put it back like where it was before October 2023. So if we want to return Gaza to pre-October 2023, we need tens of billions of dollars, or even more, and decades.”
- Medium shot: Speakers at the podium.
- SOUNDBITE (English) Rami Alazzeh, Economist, UN Trade and Development (UNCTAD): “What's left in Gaza is basically the humanitarian support. There's not much left in Gaza and when you say two thirds of the jobs were lost, already Gaza's unemployment before October 2023 was 45 per cent. So what's left in Gaza now is just the humanitarian aid workers, local UN staff, doctors, nurses. That's it. The economy basically collapsed months ago. So this is what's left in Gaza functioning now.”
- Medium shot: Journalist in the press room.
Similar Stories
1
1
1
Edited News | IOM , OHCHR , UNFPA , UNOG , UNHCR , WHO
Yemen’s humanitarian crisis growing by the hour amid spike in displacement
Yemenis displaced by renewed fighting have described fleeing for their lives amid shelling and gunfire, aid agencies reported on Friday, while highlighting the dramatic increase in humanitarian needs in the country and in Djibouti, where thousands have sought shelter.
1
1
1
Edited News | OHCHR , UNOG
The UN Human Rights Office issued on Friday a report documenting a shocking pattern of sexual violence amid Russia’s full-scale armed attack on Ukraine.
1
1
1
Press Conferences | IOM , OHCHR , UN WOMEN , UNFPA , UNHCR , UNOPS , WHO
UN Geneva briefing: Yemen crisis worsens, urgent aid needed across multiple sectors.
1
1
1
Press Conferences | HRC
Press conference on the latest report of the Independent International Fact-Finding Mission on the Bolivarian Republic of Venezuela to the UN Human Rights Council
1
1
1
Press Conferences | OHCHR
Victims Still Waiting: A Global Briefing on Transitional Justice Around the World
2
1
2
Edited News , Press Conferences | WMO
As world’s water reserves change, countries must prepare for a new reality: WMO
New data showing that rivers were at their lowest level for decades last year provides further evidence that the climate crisis is real and countries must act immediately to protect themselves from the increasing threat to communities and livelihoods, the UN World Meteorological Organization (WMO) said on Thursday.
The key findings from WMO’s State of Global Water Resources 2025 report covering the hydrological cycle and extreme events in the five-year period to last year:
- 2025 was one of driest years for river discharge in 35 years
- Past seven years have seen abnorfmal river flows
- Water storage on Earth’s land surface has decreased in past decade
- Widespread glacier loss across all regions for fourth consecutive year
- Asia and Africa are regions most affected by water-related disasters
- Water data availability has improved, but gaps remain in hard-hit areas
Highlighting the long-term decline in the Earth’s freshwater storage and glacier melt, WMO Secretary-General Celeste Saulo explained that the planet’s water reserves used to act as a planetary “savings account” that absorbed the occasional dry season, avoiding a water crisis. “One of the central stories of the 2025 report is what is happening to that savings account? And the simple answer is that we are depleting it,” she told journalists in Geneva.
Groundwater reserves are equally stretched and have been in decline since 2014, WMO’s report states, with nearly two-thirds of monitored wells worldwide showing levels lower than the historical norm and indicating a shift “further toward deficit…not recovery”.
“At the same time, we are seeing more water-related disasters,” Ms. Saulo said, while also stressing that the currently strengthening El Niño “will increase the risk of drought in some areas, and flooding in others”.
Glaciers disappearing
In 2025, for the fourth consecutive year, every major glaciated region on Earth lost ice mass, leading to short-term hazards including floods and long-term water insecurity, according to WMO.
Responding to a question about whether the changing global water cycle might have contributed to the deadly Nepal-China flooding disaster, Ms. Saulo explained that melting ice and rock was just one factor in the chain of events that ultimately sent a massive and deadly wall of water and debris downstream on 26 August, killing at least 1,367 people.
“You asked if it could happen again? Absolutely; the problem in this region is that there’s 63,700 glaciers at the last count,” she told a Press Conference in Geneva. “Even if you’re looking with remote sensing with satellites at these glaciers, you might see some faults, you might see some slight shifting, that does not mean necessarily catastrophic collapse. So, in order to plan for this, it’s very, very difficult. But the international community is looking very hard at ways in which we can bring people together to solve some of these monitoring issues.”
Data indicates that glaciers shrank between 2023 and 2025 with cumulative losses of 1,400 gigatonnes of water – or about one third of annual fresh water needs.
Every major glacier region on Earth lost ice for the fourth consecutive year.
“All 19 glacier regions around the globe lost ice; in Central Asia, Iceland, the Russian Arctic and western Canada and the United States, it was among the three worst years on record,” said Wayne Jenkinson, WMO’s Director of Hydrology and Cryosphere.
Some regions with smaller glaciers such as Central Europe, the Caucasus, the western Canada and the United States may already have reached “peak water”, Mr. Jenkinson warned.
“After this point, the glacier gives less meltwater each year simply because there is less ice left to melt. That matters for every community downstream that relies on water during hot, dry summers,” he explained.
Narelle van der Wel, WMO’s Head of Cryosphere Monitoring, Predictions and Services, stressed that while some further glacier loss is unavoidable, the eventual scale of the decline is not predetermined.
“Some glacier loss is inevitable, but total loss of glaciers is not yet inevitable,” she said, pointing to emissions reductions as central to limiting future losses.
Preparing for moving baselines
The report does not attribute every observed change to climate change alone. WMO says pressure on water resources and natural variability also contribute.
Mr. Jenkinson said governments need to prepare for “moving baselines” as historical patterns become less reliable.
“The situation 30 years ago is not where we are today,” he said. Countries, he added, need to prepare “for those changes that have really already arrived”.
ends
1
1
1
Edited News | OCHA , WHO
The deadly Ebola virus outbreak in DR Congo continues to spread across the vast country despite some success in containing it, aid officials said on Tuesday, in a renewed call for international support to help responders on the ground.
1
1
1
Press Conferences | WMO , OCHA , WHO , UNICEF , UN WOMEN , OHCHR , IOM , UNHCR
Update on Ebola from WHO and OCHA, update on the situation of children with the beginning of school in Ukraine from UNICEF, UN Women on the impact of the settlers and restrictions on women and girls in West Bank, OHCHR on the recovery of extensive human remains in Gaza, IOM and UNHCR on the new wave of displacement in Yemen
2
1
2
Press Conferences , Edited News | WFP
‘Super El Niño’ and converging crises worsen hunger in South Sudan and across the region - WFP
South Sudan’s hunger crisis is becoming increasingly catastrophic as violence, extreme weather and dwindling aid leave millions without enough food, the UN World Food Programme (WFP) warned on Tuesday.
1
1
1
Press Conferences | HRC
Update on the human rights situation in Belarus by the UN Group of Independent Experts on the Human Rights Situation in Belarus
1
1
1
Press Conferences | HRC , OHCHR
Update on the human rights situation in Syria by the Independent International Commission of Inquiry on the Syrian Arab Republic
1
1
1
Edited News | UN WOMEN
In war-torn Gaza, a growing number of women-headed households face “impossible decisions” every day, amid ongoing Israeli airstrikes and still-scarce resources, UN humanitarians said on Tuesday.