25% of businesses in the West bank forcibly closed

Palestine

Published: 2023-11-21 15:24

Last Updated: 2024-05-16 01:37


25% of businesses in the West bank forcibly closed
25% of businesses in the West bank forcibly closed

The Economic Observatory of the Palestinian Ministry of Economy announced that 25 percent of industrial and commercial establishments in the West Bank have either completely or partially closed; amidst the ongoing aggression by the Israeli Occupation Forces (IOF) waged on Gaza and the West Bank.

The Observatory noted in its report that the assaults and raids by the IOF into Palestinian cities, along with restrictions on the movement of individuals and goods, have forced businesses to close for extended periods since the beginning of the aggression.

The report further highlighted that eight percent of economic establishments have been directly attacked by the IOF in addition to settlers, causing direct damage to their assets or their goods.

A 50 percent decline in the production capacity of industrial establishments was also recorded, with ninety percent of establishments reporting a decrease in their monthly sales, averaging 52 percent.