ALBAWABA – The United Nations (UN), an intergovernmental organization focused on maintaining international peace and security, stated that the estimated cost to rebuild Gaza is approximately $50 billion and could take up to 350 years.
Cost of rebuilding Gaza
A recent report issued by the United Nations (UN) stated that the total cost of rebuilding Gaza is estimated at approximately $50 billion and could take up to 350 years, as the ongoing war on Gaza persists.
The Gaza Strip has been under conflict since October 2023, with Israel engaging in a deadly military campaign against Hamas and Gaza.
According to the latest reports from the United Nations (UN), it will take decades to revive Gaza’s economy, as the strip was already suffering from blockades by Israel and Egypt before the recent war began.
It is worth noting that by January 2024, the total estimated damage to Gaza was nearing $18.5 billion, with a quarter of the strip’s structures completely destroyed. (Shutterstock)
The war has caused complete destruction of houses, roads, buildings, and entire neighborhoods. Debris from both human casualties and structures will need to be cleared before rebuilding the strip, if the war comes to an end.
“Once a ceasefire is reached, a return to the pre-October 2023 status quo would not put Gaza on the path needed for recovery and sustainable development. If the 2007–2022 growth trend returns, with an average growth rate of 0.4 percent, it will take Gaza 350 years just to restore the GDP levels of 2022,” according to the United Nations (UN) report.
The United Nations (UN) stated that the 350 years needed to rebuild Gaza were calculated, not predicted, as it requires significant aid to restore its GDP, economic conditions, and other essential factors.
It is worth noting that by January 2024, the total estimated damage to Gaza was nearing $18.5 billion, with a quarter of the strip’s structures completely destroyed.
