Categories: Finance and Commerce

The long road ahead to rebuild life in Gaza

What about the economy?

The conflict has also had a “devastating impact” on Gaza’s economy, said the BBC. The World Bank estimates almost 100% of the population are now living in poverty, while the cost of basic supplies has risen by almost 250% on average since the start of the war.

More than a year of Israeli bombardment and ground operations have reduced much of the territory to “a rubble-strewn wasteland, with blackened shells of buildings and mounds of debris stretching in all directions”, said Euronews.

If the blockade remains in force, the UN estimates it could take 350 years for Gaza’s economy to return to pre-war levels.

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Israel’s bombardment of Gaza has also “unleashed yet another deadly, but silent enemy on the people there – asbestos”, said Al Jazeera. “Present throughout much of Gaza’s structures”, the destruction has caused vast amounts to be broken into tiny airborne particles that could potentially lead to a spike in cancer cases “for decades”.

“Major roads have been ploughed up and critical water and electricity infrastructure lies in ruins,” said Euronews, affecting not just everyday life but the prospect of economic recovery.

The key task of rebuilding homes will require “billions of dollars and the ability to bring construction materials and heavy equipment into the territory – neither of which are assured”. And meanwhile, “major questions about Gaza’s future, political and otherwise, remain unresolved”, said Euronews.

What are the long-term challenges?

With Gaza’s housing and critical infrastructure in “ruins” it is “unclear when – or even if – much will be rebuilt”, said the Los Angeles Times.

The ceasefire agreement dodges crucial questions of who will govern Gaza going forward or whether Israel and Egypt will lift a blockade limiting the movement of people and goods that they imposed when Hamas seized power in 2007.

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Greg Smith

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Greg Smith

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