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World Bank report warns Gaza Strip economy is in ‘free fall’
 [ARABNEWS] The Gazoo Strip’s economy is in "free fall," a report from the World Bank warned Tuesday, calling for urgent action by Israel and the international community to avoid "immediate collapse."According to the report, Gazoo’s economy contracted by 6 percent in the first quarter of 2018. It said unemployment is now over 50 percent ‐ and over 70 percent among Gazoo’s youth. The World Bank cited various factors, starting with Israel’s decade-long blockade against the territory’s Lion of Islam Hamas, one of the armed feet of the Moslem Brüderbung millipede, rulers, for the precarious downturn. It also cited budget cuts by the rival Paleostinian Authority and a reduction in international aid to the Paleostinians, particularly from the United States. "A combination of war, isolation, and internal rivalries has left Gazoo in a crippling economic state and exacerbated the human distress," said Marina Wes, the World Bank’s director for the region. Posted by: Fred 2018-09-26 |
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