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Musaif Musaif highlights severe economic strain in West Bank as movement restrictions and unemployment rise

Economic researcher Musaif Musaif reports that the West Bank is facing a significant economic crisis following the October 7 conflict, primarily driven by movement restrictions and high unemployment. Musaif Musaif noted that the northern governorates have been hit hardest by the expansion of checkpoints and iron gates, which have created a state of economic separation between communities. These restrictions have resulted in annual losses of approximately $207 million in the northern areas alone. Furthermore, the labor market is under severe pressure, with unemployment rates approaching 30%. While some Palestinians continue to work for Israeli factories and settlements, many have lost their permits or face difficult commutes. The crisis is exacerbated by a financial bottleneck where over $5 billion in shekels remains stuck in Palestinian banks because Israeli banks have limited the amount of extra currency shipments. This glut of cash, combined with a lack of investment in productive sectors, has left many businesses struggling to pay debts and maintain trade cycles. Musaif Musaif urged for more effective international support and a shift toward long-term developmental policies.

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