Israel collapsed Gaza’s economy

Israel collapsed Gaza’s economy

Israel’s attacks on Gaza collapsed the region’s economy

Israel carried out intense attacks against the industrial sector and facilities in the Gaza Strip, causing extensive damage to the region’s infrastructure. Power systems and communications collapsed. Factories and industrial facilities were completely paralyzed.

Since the beginning of the Israeli army’s attacks on Gaza; He also frequently attacked factories that were shut down due to weakened power, water and communication networks.

Fighter jets continued to attack the Gaza Strip with intense airstrikes on the 12th, completely destroying neighborhoods, including industrial and commercial facilities.

GAZA’S ECONOMY COLLAPSED

Palestinian Economy Minister Khalid al-Useyli stated that according to data from the end of 2022, there are 50,000 commercial establishments in Gaza.

Useyli claimed that facilities and structures in the Gaza Strip, from factories to shops, have become the target of Israeli attacks, saying: “Israel is trying to completely destroy economic life (in Gaza) today.” saying.

Useyli stated that the military attacks on the Gaza Strip caused losses unprecedented in history.

Due to the difficulty of movement between the cities of the Gaza Strip, which has been the scene of intense bombing, teams affiliated with the Ministry of Economy and relevant institutions cannot determine the balance of the Israeli war that has already lasted 12 days.

There are nearly 3,000 factories in Gaza, 2,000 of which were in operation before the Israeli attacks, and the remaining thousand have not been commissioned for years. The production capacity of active factories does not exceed 30 percent due to restrictions on raw materials, electrical energy and exports.

Aseyli explained that neither the Ministry of Economy nor the Business Association have statistics on the extent of the destruction, as all factories have closed their doors since October 7 due to the Israeli attacks and equipment has not been able to move. There are no longer streets or sewage networks and, most importantly, Israel eliminated the electrical networks. Gasoline and fuel ran out. “Workers are struggling to provide shelter for their families.” he said.

In addition to the clothing, textile and food industries, wood and furniture factories, some metallurgical industries and the production of some types of fertilizers operated in Gaza.

According to data from the Palestinian Businessmen’s Association, approximately 25,000 people were directly employed in 2,000 factories and approximately 35,000 people were indirectly employed.

THE COMMUNICATIONS SECTOR WAS DESTROYED

The telecommunications sector was also among Israel’s targets.

According to a document published by the Palestinian Telecommunications Company on October 12, 35 percent of the landline telephone and residential Internet networks were disrupted, affecting more than 50 percent of subscribers. In the days following this statement, these numbers increased.

The Israeli attacks caused much destruction, including power poles, cables and fiber optic lines. The damage was not limited to this. The attacks also caused cuts to major fiber optic lines connecting the Gaza Strip to the West Bank and the outside world. (AA)

Economy Minister of Economy Ministry of Economy Palestine Gaza Israel Textile Industry

Source: Sozcu

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