Gaza sinks deeper into humanitarian crisis as world marks int'l day for poverty eradication

As the world marked the International Day for the Eradication of Poverty on Friday, a day intended to raise awareness and spur action against poverty, people in the Gaza Strip found themselves trapped in a persistent humanitarian catastrophe with no immediate end in sight.

Two years of war waged by Israel has sent poverty and unemployment rates soaring in Gaza, stripping away livelihoods and plunging the population into the abyss of desperation. With work halted and job opportunities virtually non-existent, the Gaza residents are calling for a life of dignity, hoping that the international goal to "eradicate poverty" can become a reality on the ground in Gaza, not just a weak call to action.

The scale of destruction in Gaza is staggering. According to preliminary statistics from UN agencies and economic experts, the war has obliterated over 85 percent of Gaza's infrastructure, with approximately 400,000 housing units fully or partially destroyed, and water, electricity, and communication systems almost completely paralyzed.

The fighting has also dealt a devastating blow to Gaza's agricultural sector, with over 90 percent of farmland decimated and all fishing areas and boats lost. The future of an entire generation is at risk as an estimated 95 percent of schools have been damaged, and many educational institutions razed to the ground, creating a dual threat of lost education and future unemployment.

"Overall, the poverty rate was around 40 percent before the war. After the war, I can say for sure it has reached at least 90 percent. What is poverty? It's not just material deprivation. It's more of a state of life. Before the war, we had buildings, homes, farms, factories, and companies. But unfortunately, all of that vanished in an instant," said Issa al-Najjar, a Gaza resident.

A joint report by the World Bank and the United Nations has confirmed this grim reality, which says that economic activity in Gaza has nearly come to a complete standstill since the latest round of the conflict between Israel and Hamas began in October 2023.

The report shows that Gaza's economy contracted by approximately 83 percent in 2024, while the unemployment rate has skyrocketed to around 80 percent.

"People now have no jobs or economic activities to speak with, so no cash flow. Even those salaried employees, who used to earn 1,000 shekels (approx. 302 U.S. dollars) a month, can now only take home 600 to 650 shekels. That's not enough to cover expenses for just a month, so they have become poor as well," said Gaza resident Wael Ashour.

According to UN agency reports, nearly the entire population of Gaza is now living below the poverty line, and over half a million people are facing "catastrophic" levels of hunger. For many, each day is a desperate struggle to find enough to survive.

"We can barely make a living every morning through night, earning maybe 20 or 30 shekels a day. But this meager amount is no use at all. You can't buy anything with it. It is the same case in the entire Gaza. Everyone is starving and suffering," said Mohammed Abu Ghali, another Gaza resident.

Gaza sinks deeper into humanitarian crisis as world marks int'l day for poverty eradication

Gaza sinks deeper into humanitarian crisis as world marks int'l day for poverty eradication

Gaza sinks deeper into humanitarian crisis as world marks int'l day for poverty eradication

Gaza sinks deeper into humanitarian crisis as world marks int'l day for poverty eradication

Oil prices rose on Wednesday.

The West Texas Intermediate for February delivery increased by 87 cents, or 1.42 percent, to settle at 62.02 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery gained 1.05 dollars, or 1.6 percent, to settle at 66.52 dollars a barrel on the London ICE Futures Exchange.

Crude futures settle higher