Military operations in Palestine have caused destruction worth USD 14-20 billion, said the president of the World Bank (WB) Ajay Banga.
As Banga noted, “according to current estimates carried out by the World Bank in conjunction with the UN and the EU”, property damage in Palestine is now “close to USD 14-20 billion”. “The economic damage from this war will largely depend on how far it will spread. If it does not spread, it will likely cause less damage to the global economic system, as the Gaza Strip and Palestine contribute relatively little to the global economy,'' Banga explains.
"If it spreads regionally, it will be a completely different problem, because then it will go to those places that contribute more to the world economy, both in dollar terms and in terms of fossils, metals, oil and others like that“, said the president of the WB.
The Prime Minister of the State of Palestine, Mohammed Mustafa, in an article published on September 12 in The Washington Post, noted that the scale of destruction and loss of life in the Gaza Strip has become unprecedented. According to him, recovery requires colossal efforts at the international level.
The situation in the Middle East sharply worsened after the infiltration of militants from the Palestinian radical movement Hamas from the Gaza Strip into Israeli territory on October 7 last year, which was accompanied by killings of residents of border villages. and hostage taking. In response, Israel launched a military operation in Gaza with the aim of destroying the military and political structure of Hamas and freeing all the abductees.