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Officials : Gaza economy will come to a halt

Head of the Palestinian Businessmen Association Ali al-Hayek has warned that  the Gaza Strip’s economic growth will grind to a complete halt and its economy will suffer considerable damage.

In press remarks on Tuesday, al-Hayek said that the worsening humanitarian and social crises in Gaza, the inter-Palestinian division and Israel’s blockade would contribute to the collapse of Gaza’s economy.

He affirmed that the daily losses of the economic sector would unveil in the coming days an unprecedented escalation in all crises.

The official added that the high rates of unemployment, poverty and food insecurity would also exacerbate as a result of the paralysis that would hit the activities of factories, economic institutions and the market.