GAZA STRIP: Gaza’s economy will take years to recover from the devastating impact of the war, in which more than 360 factories have been destroyed or badly damaged and thousands of acres of farmland ruined by tanks, shelling and air strikes, according to analysts.
Almost 10 percent of Gaza’s factories have been put out of action, said the Palestinian Federation of Industries. Most other industrial plants have halted production during the conflict, causing losses estimated at more than $70m (£42m), said the union of Palestinian industries.
The UN’s Food and Agriculture Organisation (FAO) said about 42,000 acres of croplands had sustained substantial direct damage and half of Gaza’s poultry stock has been lost due to direct hits or lack of care as access to farmlands along the border with Israel became impossible.
“The initial indications are that economic damage caused by the war is three times that of the 2008-9 conflict,” said Gaza-based economist Omar Shaban. “It’s huge.” Unemployment would increase from the prewar rate of 40 percent, he said.
Gaza’s biggest factory, al Awda in Deir Al Balah, which made biscuits, juice and ice-cream, was destroyed after days of air strikes and shelling last month, which caused a massive fire. Its entire stock of raw ingredients was lost and valuable hi-tech machinery damaged beyond repair. The factory employed 450 people. “This is a war on our economy,” said owner MohammedA- elbani. “I started at ground zero, spent 45 years building this business and now it’s gone.”
THE GUARDIAN
