United Nations, May 12 (RHC)-- A joint study by the UNDP and the Economic and Social Commission for Western Asia (ESCWA), found that the poverty rate in Palestine has surged to 58.4 percent since Israel’s Gaza offensive, pushing nearly 1.74 million additional people into poverty.

At the same time, it added, Palestine’s gross domestic product (GDP) plummeted by 26.9 percent, resulting in a loss of $7.1 billion compared to a 2023 baseline.

The assessment also predicted that the poverty level could more than double to 60.7 percent and the GDP would further decline by 29 percent if the war were to continue for nine months.  “Every additional day that this war continues is exacting huge and compounding costs to Gazans and all Palestinians, now and in the medium and long term,” UNDP Administrator Achim Steiner warned.

“Unprecedented levels of human losses, capital destruction, and the steep rise in poverty in such a short period of time will precipitate a serious development crisis that jeopardizes the future of generations to come.”

Meanwhile, the report said that human development in Gaza will be set back by 44 years if the Israeli aggression continues for nine months.