This week, the United Nations Conference on Trade and Development (UNCTAD) released a report assessing the situation in the Gaza Strip, stating that the conflict over the past two years has transformed the territory into "a human-made abyss of despair."

Approximately 174,500 buildings, representing 70% of all structures across the Gaza Strip, have been destroyed or damaged, leaving over 61 million tons of rubble to be cleared. UNCTAD also warned that 2,3 million Gazans face the risk of "extreme and comprehensive poverty," as the warfare has significantly weakened nearly all pillars of life in the territory.

Gaza City's Shijaiya neighborhood was reduced to rubble in a photo released on 5 November. *Photo: AP*

Gaza's economy declined by 87% during 2023-2024, pushing per capita GDP down to 161 USD, among the lowest globally. The reconstruction of the Gaza Strip could take decades and is expected to cost over 70 billion USD.

The report highlighted the worst economic decline ever recorded, which erased decades of development gains in the Gaza Strip and the West Bank. "By the end of 2024, Palestinian GDP will have reverted to 2010 levels, while per capita GDP will have returned to 2003 levels, meaning 22 years of development were wiped out in less than two years," UNCTAD emphasized.

The conflict in Gaza erupted after Hamas forces attacked Israel on 7/10/2023, killing 1,200 people and taking 251 hostages. Israel's retaliatory campaign that followed has resulted in the deaths of over 69,000 Palestinians, mostly civilians.

61 million tons of rubble covers the Gaza Strip. *Graphic: Guardian*

A US-brokered ceasefire between Israel and Hamas took effect in October and has since been maintained, though it remains fragile amid mutual accusations of violations. Hamas released all 20 remaining living hostages and returned the bodies of 22 of the 25 deceased hostages. In return, Israel released nearly 2,000 Palestinian prisoners and handed over the bodies of hundreds of others.

Gaza health authorities reported at least 342 people have been killed by Israeli fire since the ceasefire, while Israel confirmed three of its soldiers were shot dead during the same period.

By Thanh Danh (According to Guardian, UNCTAD)