Fri 25-October-2024

Hayek: Consumer buying power in Gaza declines by 60%

Saturday 10-March-2018

Ali al-Hayek Head of the Palestinian Businessmen Association in Gaza called for taking an urgent action for offering financial aid to the private sector in the besieged Gaza Strip in light of the emerging crises due to the decade-long Israeli siege.

In a press statement on Saturday Hayek said that the economic indicators affirm that the people of Gaza will not tolerate the bad living conditions in the coming few months in light of the absolute comprehensive deterioration of the humanitarian conditions in the blockaded coastal enclave.

The consumer purchasing power of the Gazan people has declined by 60% under the shortage of resolutions needed to end the current crises in Gaza he said.

“Due to the Israeli blockade and also the internal Palestinian division that have been going on for 11 years the poverty rate has jumped to 80% and the unemployment rate reached 50% as neither the public sector nor the private one was able to absorb more workers and graduates” Hayek said.

He called on Palestinian Authority President Mahmoud Abbas to alleviate the crises in Gaza by supporting the private sector and accomplishing the Palestinian reconciliation which has a key role in this regard.

He also asked international community and the human rights organizations to save the Gazan people by halting the deterioration of the humanitarian and economic conditions in the Gaza Strip.

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