Inflation, a shrinking fiscal space, a decline in foreign aid and the build-up of debt kept the economy of the Occupied Palestinian Territory below its 2019 pre-pandemic level.

The latest report by the United Nations Conference on Trade and Development (UNCTAD) on its assistance to the Palestinian people says 2022 was another bad year for Palestinians.

Against a backdrop of heightened political tensions, deepening dependency on the occupying Power and a stalled peace process, the Palestinian economy continued to operate below potential in 2022 as other persistent challenges intensified.

These include loss of land and natural resources to Israeli settlements, endemic poverty, a shrinking fiscal space, declining foreign aid and the build-up of public and private debt.

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