Prolonged crisis in the oPt: socio-economic developments in 2007

The Palestinian economy continued to perform badly in 2007. Real Gross Domestic Product (GDP) in 2007 – estimated at about USD 4.1 billion – was virtually unchanged from 2006, itself a year of severe economic regression. There was a rebound in the public sector after mid-2007 due to the end of the fiscal crisis that began in 2006 with the Government of Israel (GOI) and donor boycott of the Palestinian Authority (PA) and public employee strike. But this was offset by continued stagnation in the private sector. GDP in 2007 remained around 8.3 percent below its 1999 level. With population growth of about one-third during the intervening period, per capita GDP in 2007 was almost a third below its 1999 level. The occupied Palestinian territory (oPt) continued to have the worst performing economy in the Middle East North Africa sub-region (MENA).

Prolonged crisis in the oPt: socio-economic developments in 2007
Year: 
2008
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