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FinancialNews
14-04-20
COVID-19 puts economic situation in Gaza Strip at risk
(MENAFN) According to Palestinian Businessmen Association in the Gaza Strip, the economic state in the Gaza Strip is at risk of "severe and catastrophic" consequences because of the coronavirus outbreak.
The emergency procedures in Gaza because of the virus have put thousands of workers in the ranks of joblessness, as said in a statement by the association.
The industrial sector is in most risk, as it has lost more than 10,000 jobs since the start of the coronavirus crisis and has caused a 19 percent decrease in production rates, as Ali Hayek, head of the Palestinian Businessmen Association said.
Hayek added that, "this signals more deterioration and economic collapse; the economy in Gaza is going through a dangerous phase resulting from past accumulated crises."
MENAFN1404202000450000ID1100021566
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