Poverty could double in the West Bank as coronavirus takes toll, World Bank warns
The bank estimates the percentage of poor households in the West Bank will increase from 14% to 30% in 2020.
The number of Palestinians living below the poverty line could more than double this year, as the coronavirus pandemic continues to exacerbate the existing financial crisis in the West Bank, the World Bank warned in a report June 1.
“Going forward, the outlook for the Palestinian economy looks grim especially after the COVID-19 outbreak,” the Washington-based bank said. “At this point, it is not possible to say how long it will take for the economy to recover from the current containment measures."
The Palestinian Authority (PA) faces a financing gap of more than $1.5 billion this year, due in part to years of decreased donor support, declining revenues and increased spending on health care, the World Bank report said.
The World Bank further warned the Palestinian economy is expected to shrink by at least 7.6% in 2020, and in the event of a slower recovery, up to 11%. The economy grew by just 1% in 2019.
