The United Nations has issued a stark warning about the dire economic and humanitarian situation in the Gaza Strip, estimating that reconstruction efforts will require $70 billion over the coming decades. A report by the United Nations Conference on Trade and Development (UNCTAD) highlights the devastating impact of Israel’s bombardment, which has plunged Gaza into a ‘human-made abyss,’ with its economy contracting by 87% in 2023-2024. The per capita GDP has plummeted to $161, one of the lowest globally. The report also underscores the crisis in the occupied West Bank, where repeated attacks by Israeli soldiers and settlers have exacerbated economic instability. Decades of economic progress in Palestine have been erased, with the current crisis ranking among the ten worst globally since 1960. UN officials describe the situation as ‘bleak,’ with over 1.7 million people displaced, facing severe shortages of water, food, and medical care. The UN has called for urgent international intervention to address the humanitarian crisis, restore fiscal transfers, and ease trade and movement restrictions. The report emphasizes the need for a comprehensive recovery plan to stabilize the region and foster lasting peace and development.