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The Palestinian Economy

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"The Palestinian Economy"

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Ian Bomberg and Moran Banai write for CAP about the Palestinian economy:

Combined efforts by governments and the business community have improved the Palestinian economy during the past few years. Overall gross domestic product growth in 2009 was 6.8 percent in the West Bank and Gaza Strip—markedly greater than the 5.5 percent estimated in the PA’s 2009 budget. The majority of this improvement occurred in the West Bank, which saw 8.5 percent GDP growth. Gaza lagged behind with only 1 percent growth due to the ongoing blockade, which is tied to Hamas’s refusal to accept the Quartet requirements and the continued captivity of Israeli staff sergeant Gilad Shalit.

For context, note that the population of the Gaza Strip is growing at 3.4 percent per year so people there are getting poorer on average. So say what you will about the blockade strategy—it is succeeding in its goal of subjecting the population of Gaza to escalating immiseration.

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