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Asharq Al-Awsat

Business

Jerusalem - Asharq Al-Awsat

Palestine Incurs $50Bln Economic Losses in Two Decades

United Nations West Bank Area C Economy General Assembly UN General Assembly Israel GDP

Official statistics reveal an increase in the Palestinian trade deficit, exceeding half a billion dollars. (Reuters)

Additional restrictions imposed on Palestinian development in Israeli-controlled parts of the West Bank cost the Palestinian economy an estimated $50 billion between 2000 and 2020, the UN development agency said Tuesday.

The United Nations Conference on Trade and Development (UNCTAD) said in report to the UN General Assembly that extra restrictions imposed within the West Bank's so-called Area C, which remains under full Israeli control, had cost $2.5 billion per year.

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