Gaza Commerce Chamber: Economic Conditions About to Deteriorate

Gaza, MINA – Maher Tabbaa, Manager of Public Relations and Media at Gaza Chamber of Commerce and Industry, said that the Israeli decade-long siege on Gaza along with the Palestinian Authority (PA) latest punitive measures have led to potential deterioration of economic conditions in the blockaded costal enclave.

In a statement on Wednesday, Tabaa highlighted the current economic issues; most prominent the power and salaries crises, being suffered by the Gazan people especially with the upcoming holiday of Eid al-Adha and the beginning of the new academic year, PIC reported.

He pointed out that the unemployment rate in Gaza has exceeded 41 per cent, while the poverty rate has jumped to 65 per cent.

The market has entered a state of unprecedented recession, he added.(T/R04/RS5)

Mi’raj Islamic News Agency (MINA)