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Home ยป The Israel-Hamas War and its Economic Impact on the West Bank
Economic

The Israel-Hamas War and its Economic Impact on the West Bank

adminBy adminJuly 28, 2024No Comments2 Mins Read0 Views
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The economies of the West Bank cities of Jenin and Tulkarm have been heavily affected by the war between Israel and Hamas, according to a Sunday New York Times article focusing primarily on the two cities.

The NYT cited the closure of the Jalameh checkpoint, which allowed Israeli Arabs to enter the West Bank city of Jenin after the October 7 massacre, as a barrier to economic opportunity.

The closure is reportedly affecting both Israeli Arabs and Palestinians, who can no longer visit the city.

Wasif Flahat, a local restaurant owner in Jenin, told The New York Times that Israeli Arabs are not allowed into the city, and Palestinians have also stopped coming due to a lack of funds and fears of “an Israeli military incursion.”

The economic situation has affected the Palestinian Authority, which has cut in half the salaries of its approximately 140,000 employees, according to the article.

“Financial crisis”

A World Bank report released in May said some 144,000 jobs have been lost in the West Bank since the war began, including 148,000 jobs lost by Palestinians who were working in Israel before the October 7 Hamas-led massacre in southern Israel.

The report also states that “the Palestinian Authority’s financial situation has deteriorated dramatically over the past three months, significantly increasing the risk of financial collapse.”

“The gap between revenues and what is needed to cover essential public expenditures is widening rapidly, causing a fiscal crisis,” the World Bank added.

Jenin and Tulkarm have recently been the focus of counterterrorism operations by the Israel Defense Forces and the Shin Bet (Israeli security services).



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