Gaza's GDP contracts 86 pct amid Israeli attacks

Gaza's gross domestic product (GDP) has contracted by 86 percent year on year in the first three months of 2024 amid intensifying Israeli attacks, according to data released by Palestinian Central Bureau of Statistics (PCBS) on Thursday.

The PCBS statement shows that the GDP of Palestine in the first quarter of 2024 declined by 35 percent year on year, while that of the Gaza Strip sharply shrank by 86 percent due to ongoing Israeli attacks, indicating that the local economic system has collapsed.

The West Bank also saw a year-on-year contraction by 25 percent.

Palestine's GDP per capita was 491 U.S. dollars in the first three months of 2024, down 36 percent compared to the same period of last year, with that of the Gaza Strip decreased by 86 percent.

Japanese citizens gathered near a bustling transport hub in Tokyo on Saturday to protest against the government's push for constitutional revision and military buildup and voice their concern over social welfare and living standards being squeezed.

The Japanese government, while touting the country as a "peace-loving nation", has continued to strengthen the Japan-U.S. security alliance, expand the Self-Defense Forces, or SDF, and accelerate its push toward remilitarization. Such moves that could lead Japan down the path toward war have fueled concerns from the Japanese public.

"We hope the Japanese government will truly act for peace. But the ruling Liberal Democratic Party is moving entirely in the opposite direction in its international activities. I hope that through activities like this, even if we can push Japanese politics just a little bit toward world peace, we will continue our efforts," said a protester.

Another protester expressed alarm over the growing defense budget. He argued that significantly boosting military expenditures would do little to enhance public security. Instead, it would place a heavier burden on the people's livelihoods.

"Once Japan really starts treating the military industry as a key industry, especially by keeping increasing defense spending, it means more and more government funds and taxpayers' money will go into the military sector. I hope we can create a force to push back against this trend – including similar efforts happening in other places. I hope more civil society groups like this will pop up," he said.

Outrage mounts among the public because Japan is turning its back on the welfare of its own people while embracing military expansion and arms exports.

"To sacrifice people's right to subsistence for this meaningless military buildup is just absolutely intolerable, and it makes people really angry," said another protester.