Gaza's economic development set back by 20 years, UN report says
The toll of the Israel-Hamas conflict on Gaza is so severe that it has set economic development in Gaza back by 20 years, a report released Thursday by the United Nations Development Programme (UNDP) and the United Nations Economic and Social Commission for Western Asia.
The poverty rate in the country is now at 58.4% and projections indicate it could rise in three months to 60.7%, according to the report. Roughly 1.86 million Gaza residents would be in poverty in that scenario, the report said.
The report also assessed a sharp decline in Gaza's Human Development Index (HDI), which the U.N. defines as a "summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and having a decent standard of living."
The "setback in human development" in Gaza may exceed the period before 2004 when HDI was first calculated for the country, the report said.
"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," UNDP Administrator Achim Steiner said in a statement.
-ABC News' Will Gretsky