Four years since the outbreak of the intifada in September 2000, the Palestinian economy continues to be mired in deep recession.
Although the Palestinian economy recovered in 2003, this upturn is short-lived. The economy remains severely depressed compared with the pre-intifada period, with closures stifling economic activity and restricting the movement of people and goods, according to the World Bank report Intifada, Closures and Palestinian Economic Crisis: An Assessment.
“Closures are a key factor behind today’s economic crisis in the West Bank. They have fragmented Palestinian economic space, raised the cost of doing business and eliminated the predictability needed to conduct business,” says Nigel Roberts, World Bank Country Director for the West Bank and Gaza.